Organigram (TSE:OGI) Trading 9.1% Higher – Time to Buy?

Organigram Holdings Inc. (TSE:OGI)’s stock price was up 9.1% during mid-day trading on Wednesday . The stock traded as high as C$1.93 and last traded at C$1.91. Approximately 224,646 shares were traded during trading, a decline of 13% from the average daily volume of 257,132 shares. The stock had previously closed at C$1.75.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. ATB Cormark Capital Markets downgraded Organigram from a “strong-buy” rating to a “moderate buy” rating and decreased their target price for the stock from C$3.50 to C$3.25 in a research report on Wednesday, February 11th. Canaccord Genuity Group set a C$3.00 price objective on Organigram and gave the company a “buy” rating in a research report on Tuesday, January 27th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$3.13.

Organigram Trading Down 1.5%

The company has a debt-to-equity ratio of 3.07, a current ratio of 3.36 and a quick ratio of 2.62. The business’s 50 day simple moving average is C$2.23 and its 200 day simple moving average is C$2.29. The stock has a market cap of C$264.87 million, a P/E ratio of 12.73, a PEG ratio of 0.42 and a beta of 1.97.

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.