Organigram (TSE:OGI) Trading Down 11% – Here’s What Happened

Organigram Holdings Inc. (TSE:OGI)’s stock price dropped 11% on Tuesday . The stock traded as low as C$2.34 and last traded at C$2.35. Approximately 468,003 shares changed hands during trading, an increase of 131% from the average daily volume of 202,513 shares. The stock had previously closed at C$2.64.

Organigram Stock Performance

The stock has a fifty day simple moving average of C$2.35 and a two-hundred day simple moving average of C$2.22. The stock has a market cap of C$309.26 million, a PE ratio of -11.86, a PEG ratio of 0.42 and a beta of 2.22. The company has a debt-to-equity ratio of 3.07, a quick ratio of 2.62 and a current ratio of 3.36.

Insider Buying and Selling at Organigram

In other Organigram news, insider Paolo De Luca sold 12,007 shares of Organigram stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of C$2.49, for a total transaction of C$29,897.43. Following the sale, the insider directly owned 35,768 shares in the company, valued at C$89,062.32. The trade was a 25.13% decrease in their position. Also, insider Beena Goldenberg sold 20,058 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of C$2.25, for a total value of C$45,130.50. Following the completion of the transaction, the insider directly owned 126,132 shares in the company, valued at approximately C$283,797. The trade was a 13.72% decrease in their ownership of the stock. In the last 90 days, insiders sold 161,555 shares of company stock valued at $385,351. Company insiders own 31.32% of the company’s stock.

Organigram Company Profile

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.