Organigram (TSE:OGI) Trading Down 3.7% - Time to Sell?

Key Points

• Organigram shares fell 3.7% to C$1.82 during mid-day trading, with roughly 69,636 shares traded — a 71% decline from the average daily volume of 238,965 shares.
• Analysts maintain a consensus "Buy" rating with a consensus target of C$3.13; Canaccord set a C$3.00 buy target while ATB Cormark downgraded to a moderate buy and trimmed its target to C$3.25.
• The company has a market cap of C$248.13 million, P/E of 11.82 and debt-to-equity of 2.29, and the stock is trading below its 50-day (C$1.99) and 200-day (C$2.25) moving averages.

Organigram Holdings Inc. (TSE:OGI - Get Free Report) was down 3.7% during mid-day trading on Thursday . The company traded as low as C$1.82 and last traded at C$1.82. Approximately 69,636 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 238,965 shares. The stock had previously closed at C$1.89.

Wall Street Analyst Weigh In

A number of research firms recently commented on OGI. Canaccord Genuity Group set a C$3.00 target price on Organigram and gave the stock a "buy" rating in a research report on Tuesday, January 27th. ATB Cormark Capital Markets downgraded Organigram from a "strong-buy" rating to a "moderate buy" rating and reduced their price objective for the stock from C$3.50 to C$3.25 in a research note on Wednesday, February 11th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of C$3.13.

Organigram Stock Down 3.7%

The company's fifty day moving average price is C$1.99 and its 200-day moving average price is C$2.25. The stock has a market cap of C$248.13 million, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 0.42 and a beta of 1.81. The company has a debt-to-equity ratio of 2.29, a quick ratio of 2.62 and a current ratio of 2.73.

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.

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