Organigram Holdings Inc. (TSE:OGI – Get Free Report)’s share price traded up 12.3% during trading on Tuesday . The company traded as high as C$3.84 and last traded at C$3.84. 196,723 shares were traded during mid-day trading, a decline of 34% from the average session volume of 298,177 shares. The stock had previously closed at C$3.42.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the company. Canaccord Genuity Group dropped their price objective on Organigram from C$4.00 to C$3.75 in a research note on Wednesday, December 20th. ATB Capital lifted their price objective on Organigram from C$5.50 to C$6.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 20th. Alliance Global Partners boosted their price target on Organigram from C$2.00 to C$2.70 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, Jefferies Financial Group lowered their price target on Organigram from C$4.95 to C$4.40 and set a “buy” rating on the stock in a research note on Tuesday, February 27th.
Check Out Our Latest Report on Organigram
Organigram Stock Down 14.8 %
Organigram (TSE:OGI – Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The company reported C($0.19) earnings per share for the quarter, missing the consensus estimate of C($0.13) by C($0.06). Organigram had a negative net margin of 153.80% and a negative return on equity of 54.53%. The company had revenue of C$36.46 million during the quarter, compared to the consensus estimate of C$38.13 million. On average, equities research analysts expect that Organigram Holdings Inc. will post 0.09952 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Donald Geoffrey Machum sold 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of C$2.74, for a total value of C$62,964.80. Corporate insiders own 34.74% of the company’s stock.
About Organigram
Organigram Holdings Inc, through its subsidiaries, engages in the production and sale of cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including whole flower, milled flower, pre-rolls, infused pre-rolls, vapes, gummies, and concentrates for medical retailers; adult use recreational cannabis under the SHRED, Holy Mountain, Big Bag O' Buds, Monjour, Trailblazer, SHRED'ems, Edison Cannabis Co, Edison JOLTS, Tremblant, and Laurentian brands.
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