Organigram (TSE:OGI) Trading Up 6.3% - What's Next?

Key Points

• Shares jumped 6.3% on Thursday to an intraday high of C$2.07 and last traded at C$2.03, with 203,925 shares changing hands—about 17% below the average daily volume.
• Analyst sentiment is mixed-but-positive: ATB Cormark downgraded Organigram and cut its target to C$3.25, but Canaccord and others maintain "buy" ratings, leaving an average analyst price target of C$3.13, implying upside from current levels.
• Fundamentals show a market cap of C$272.99M, a P/E of 13.12 and PEG of 0.42, yet the stock trades below both its 50‑day (C$2.12) and 200‑day (C$2.29) moving averages and carries a debt/equity ratio of 2.29, signaling technical resistance and leverage risk.

Organigram Holdings Inc. (TSE:OGI - Get Free Report)'s stock price shot up 6.3% on Thursday . The stock traded as high as C$2.07 and last traded at C$2.03. 203,925 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 247,018 shares. The stock had previously closed at C$1.91.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OGI. ATB Cormark Capital Markets downgraded shares of Organigram from a "strong-buy" rating to a "moderate buy" rating and cut their price target for the company from C$3.50 to C$3.25 in a report on Wednesday, February 11th. Canaccord Genuity Group set a C$3.00 price objective on Organigram and gave the stock a "buy" rating in a report on Tuesday, January 27th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of C$3.13.

Organigram Stock Up 5.8%

The company has a debt-to-equity ratio of 2.29, a current ratio of 2.73 and a quick ratio of 2.62. The firm has a 50-day moving average of C$2.12 and a 200 day moving average of C$2.29. The stock has a market capitalization of C$272.99 million, a price-to-earnings ratio of 13.12, a PEG ratio of 0.42 and a beta of 1.97.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.