Organigram (TSE:OGI) Stock Price Down 4.5% – What’s Next?

Organigram Holdings Inc. (TSE:OGI) shares were down 4.5% during mid-day trading on Monday . The stock traded as low as C$2.10 and last traded at C$2.10. Approximately 270,900 shares changed hands during mid-day trading, an increase of 37% from the average daily volume of 197,452 shares. The stock had previously closed at C$2.20.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OGI. Canaccord Genuity Group dropped their target price on shares of 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. ATB Capital reduced their target price on shares of Organigram from C$5.25 to C$3.50 in a research note on Tuesday, December 17th.

Organigram Trading Up 7.5 %

The business has a fifty day moving average price of C$2.22 and a 200-day moving average price of C$2.32. The company has a quick ratio of 2.62, a current ratio of 6.95 and a debt-to-equity ratio of 1.13. The company has a market cap of C$249.71 million, a P/E ratio of -0.92, a PEG ratio of 0.42 and a beta of 1.13.

About Organigram

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.