Organigram (TSE:OGI) Stock Price Down 5.2% – Should You Sell?

Shares of Organigram Holdings Inc. (TSE:OGI) traded down 5.2% during mid-day trading on Friday . The company traded as low as C$1.44 and last traded at C$1.45. 115,549 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 249,714 shares. The stock had previously closed at C$1.53.

Analyst Ratings Changes

OGI has been the topic of a number of research analyst reports. Canaccord Genuity Group cut their target price 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. ATB Capital reduced their price objective on Organigram from C$5.25 to C$3.50 in a research note on Tuesday, December 17th.

Organigram Trading Down 5.2 %

The firm’s 50-day simple moving average is C$1.83 and its 200 day simple moving average is C$2.14. The firm has a market cap of C$179.14 million, a P/E ratio of -3.07, a price-to-earnings-growth ratio of 0.42 and a beta of 1.13. The company has a quick ratio of 2.62, a current ratio of 3.36 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.