Shares of Organigram Holdings Inc. (TSE:OGI – Get Free Report) traded up 2% on Wednesday . The company traded as high as C$2.56 and last traded at C$2.53. 205,712 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 320,259 shares. The stock had previously closed at C$2.48.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. Jefferies Financial Group reduced their target price on Organigram from C$4.40 to C$4.35 in a report on Friday, May 17th. Canaccord Genuity Group raised their target price on Organigram from C$3.25 to C$3.60 and gave the company a “speculative buy” rating in a report on Wednesday, August 14th.
Get Our Latest Analysis on OGI
Organigram Stock Up 1.2 %
Organigram (TSE:OGI – Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The company reported C$0.03 EPS for the quarter, beating analysts’ consensus estimates of C($0.07) by C$0.10. Organigram had a negative return on equity of 54.53% and a negative net margin of 153.80%. The company had revenue of C$41.06 million during the quarter, compared to analysts’ expectations of C$39.20 million. On average, research analysts anticipate that Organigram Holdings Inc. will post 0.1735254 earnings per share for the current fiscal year.
Insider Activity
In related news, Senior Officer Paolo De Luca sold 10,266 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of C$2.76, for a total transaction of C$28,334.16. 31.43% of the stock is owned by corporate 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.
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