Organigram (TSE:OGI) Stock Price Down 0.4% – Here’s Why

Organigram Holdings Inc. (TSE:OGI) fell 0.4% during trading on Monday . The stock traded as low as C$2.18 and last traded at C$2.26. 174,291 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 223,412 shares. The stock had previously closed at C$2.27.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group reduced their price objective on Organigram from C$3.60 to C$3.15 and set a “speculative buy” rating for the company in a research report on Monday, December 9th. ATB Capital dropped their price objective on shares of Organigram from C$5.25 to C$3.50 in a report on Tuesday, December 17th.

Organigram Trading Down 0.4 %

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 stock has a market cap of C$245.37 million, a P/E ratio of -0.90, a price-to-earnings-growth ratio of 0.42 and a beta of 1.13. The business’s fifty day simple moving average is C$2.21 and its 200 day simple moving average is C$2.32.

Insider Activity

In other news, Senior Officer Paolo De Luca sold 12,014 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of C$2.52, for a total value of C$30,275.28. 31.32% of the stock is owned by insiders.

Organigram Company Profile

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.