Organigram (TSE:OGI) Hits New 52-Week Low – Here’s What Happened

Organigram Holdings Inc. (TSE:OGI) shares reached a new 52-week low on Wednesday . The company traded as low as C$1.51 and last traded at C$1.53, with a volume of 176665 shares trading hands. The stock had previously closed at C$1.54.

Analysts Set New Price Targets

Several research analysts have commented on the stock. ATB Cormark Capital Markets downgraded shares of Organigram from a “strong-buy” rating to a “moderate buy” rating and dropped their price objective 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 target price on shares of Organigram and gave the stock a “buy” rating in a report on Tuesday, January 27th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$3.13.

Organigram Price Performance

The stock has a 50 day moving average of C$1.93 and a 200-day moving average of C$2.12. The company has a current ratio of 2.73, a quick ratio of 2.62 and a debt-to-equity ratio of 2.29. The stock has a market capitalization of C$216.58 million, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 0.42 and a beta of 1.72.

Insider Activity at Organigram

In other Organigram news, Director Donald Geoffrey Machum sold 17,929 shares of the business’s stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of C$1.86, for a total value of C$33,347.94. Following the completion of the sale, the director directly owned 1,125 shares of the company’s stock, valued at C$2,092.50. The trade was a 94.10% decrease in their position. Insiders have sold 76,647 shares of company stock valued at $142,753 in the last quarter. Corporate 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.