Organigram (TSE:OGI) Reaches New 12-Month Low – Here’s Why

Shares of Organigram Holdings Inc. (TSE:OGI) hit a new 52-week low on Friday . The stock traded as low as C$1.77 and last traded at C$1.78, with a volume of 212154 shares changing hands. The stock had previously closed at C$1.83.

Analysts Set New Price Targets

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

Organigram Price Performance

The firm has a market capitalization of C$219.91 million, a price-to-earnings ratio of -3.76, a price-to-earnings-growth ratio of 0.42 and a beta of 1.13. The stock’s fifty day moving average price is C$2.20 and its two-hundred day moving average price is C$2.30. The company has a current ratio of 3.36, a quick ratio of 2.62 and a debt-to-equity ratio of 3.07.

Organigram Company Profile

Organigram Inc is a Canadian licensed producer of cannabis products. Organigram focuses on producing exceptional, indoor-grown cannabis for patients and adult recreational consumers, as well as developing global business partnerships.