Organigram (TSE:OGI) Stock Price Down 0.4% – Here’s Why

Shares of Organigram Holdings Inc. (TSE:OGI) dropped 0.4% on Monday . The company traded as low as C$2.18 and last traded at C$2.26. Approximately 174,291 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 223,412 shares. The stock had previously closed at C$2.27.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OGI. Canaccord Genuity Group lowered their price target on Organigram from C$3.60 to C$3.15 and set a “speculative buy” rating for the company in a report on Monday, December 9th. ATB Capital lowered their target price on Organigram from C$5.25 to C$3.50 in a research note on Tuesday, December 17th.

Organigram Stock Down 0.5 %

The company has a market capitalization of C$237.77 million, a price-to-earnings ratio of -0.87, a P/E/G ratio of 0.42 and a beta of 1.13. The company has a debt-to-equity ratio of 1.13, a current ratio of 6.95 and a quick ratio of 2.62. The firm’s fifty day moving average price is C$2.20 and its 200-day moving average price is C$2.32.

Insiders Place Their Bets

In other news, Senior Officer Paolo De Luca sold 12,014 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of C$2.52, for a total transaction of C$30,275.28. Insiders own 31.32% of the company’s stock.

Organigram Company Profile

Organigram Holdings Inc, through its subsidiaries, engages in the production and sale of cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including whole flower, milled flower, pre-rolls, infused pre-rolls, vapes, gummies, and concentrates for medical retailers; adult use recreational cannabis under the SHRED, Holy Mountain, Big Bag O’ Buds, Monjour, Trailblazer, SHRED’ems, Edison Cannabis Co, Edison JOLTS, Tremblant, and Laurentian brands.