Organigram (TSE:OGI) Trading 9.8% Higher – Still a Buy?

Shares of Organigram Holdings Inc. (TSE:OGI) rose 9.8% on Wednesday . The stock traded as high as C$2.36 and last traded at C$2.35. Approximately 157,768 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 190,548 shares. The stock had previously closed at C$2.14.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on OGI shares. Canaccord Genuity Group reduced 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 cut their price objective on shares of Organigram from C$5.25 to C$3.50 in a research report on Tuesday, December 17th.

Organigram Trading Up 1.7 %

The stock has a market capitalization of C$262.74 million, a price-to-earnings ratio of -0.96, a price-to-earnings-growth ratio of 0.42 and a beta of 1.13. The company has a current ratio of 6.95, a quick ratio of 2.62 and a debt-to-equity ratio of 1.13. The company has a fifty day moving average of C$2.23 and a two-hundred day moving average of C$2.32.

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.