Shares of OrganiGram Holdings Inc. (NASDAQ:OGI) were down 3.7% during mid-day trading on Tuesday . The stock traded as low as $3.36 and last traded at $3.36. Approximately 28,408 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 25,601,771 shares. The stock had previously closed at $3.49.

Several equities analysts have recently issued reports on OGI shares. Stifel Nicolaus upped their target price on OrganiGram from $1.90 to $6.00 and gave the company a “hold” rating in a report on Tuesday, March 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price objective (up previously from $3.50) on shares of OrganiGram in a research note on Thursday, March 11th. They noted that the move was a valuation call. BMO Capital Markets reiterated an “underperform” rating and issued a $2.00 price objective on shares of OrganiGram in a research note on Tuesday, March 16th. Raymond James upped their price objective on OrganiGram from $3.00 to $6.00 and gave the company an “outperform” rating in a research note on Friday, March 12th. Finally, Zacks Investment Research upgraded OrganiGram from a “sell” rating to a “hold” rating in a research note on Wednesday, March 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. OrganiGram presently has a consensus rating of “Hold” and a consensus price target of $4.09.

The stock has a market cap of $733.98 million, a PE ratio of -4.65 and a beta of 0.30. The firm has a 50-day simple moving average of $3.49 and a 200-day simple moving average of $2.03. The company has a quick ratio of 3.39, a current ratio of 2.66 and a debt-to-equity ratio of 0.17.

OrganiGram (NASDAQ:OGI) last posted its earnings results on Monday, January 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.14). The company had revenue of $14.69 million for the quarter, compared to analysts’ expectations of $16.02 million. OrganiGram had a negative return on equity of 10.00% and a negative net margin of 207.26%. On average, research analysts expect that OrganiGram Holdings Inc. will post -0.11 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the stock. Creative Planning raised its position in shares of OrganiGram by 20.7% in the fourth quarter. Creative Planning now owns 38,093 shares of the company’s stock worth $51,000 after buying an additional 6,522 shares in the last quarter. Sigma Planning Corp raised its position in shares of OrganiGram by 11.7% in the fourth quarter. Sigma Planning Corp now owns 103,675 shares of the company’s stock worth $138,000 after buying an additional 10,873 shares in the last quarter. Marathon Capital Management purchased a new stake in shares of OrganiGram in the fourth quarter worth $33,000. Paloma Partners Management Co purchased a new stake in shares of OrganiGram in the third quarter worth $31,000. Finally, Laidlaw Wealth Management LLC bought a new position in OrganiGram in the fourth quarter valued at $40,000. Institutional investors own 10.84% of the company’s stock.

OrganiGram Company Profile (NASDAQ:OGI)

Organigram Holdings Inc, through its subsidiaries, produces and sells cannabis and cannabis-derived products in Canada. It offers cannabis flowers, extracts, edibles and oils, beverages, and other cannabis products for adult recreational market under the Edison Reserve, Edison Cannabis Co, ANKR Organics, and Trailblazer brands; and medical cannabis products, including strains, cannabis oils, extracts, edibles, beverages, and vaporizers for the medical market.

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