Organigram (TSE:OGI) Trading Up 6.3% – What’s Next?

Organigram Holdings Inc. (TSE:OGI)’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.