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

Organigram Holdings Inc. (TSE:OGIGet Free Report)’s stock price fell 0.4% during trading on Monday . The stock traded as low as C$2.18 and last traded at C$2.26. 174,291 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 223,412 shares. The stock had previously closed at C$2.27.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. ATB Capital cut their target price on shares of Organigram from C$5.25 to C$3.50 in a report on Tuesday, December 17th. Canaccord Genuity Group dropped their price objective on Organigram from C$3.60 to C$3.15 and set a “speculative buy” rating on the stock in a research note on Monday, December 9th.

Read Our Latest Stock Analysis on Organigram

Organigram Stock Performance

The stock has a market cap of C$245.37 million, a P/E ratio of -0.90, a price-to-earnings-growth 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 stock’s 50 day simple moving average is C$2.21 and its two-hundred day simple moving average is C$2.32.

Insider Buying and Selling

In related news, Senior Officer Paolo De Luca sold 12,014 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of C$2.52, for a total transaction of C$30,275.28. 31.32% of the stock is currently owned by company insiders.

About Organigram

(Get Free Report)

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.

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