Organigram (TSE:OGI) Stock Price Up 2%

Organigram Holdings Inc. (TSE:OGI) shares were up 2% during mid-day trading on Wednesday . The company traded as high as C$2.56 and last traded at C$2.53. Approximately 205,712 shares were traded during trading, a decline of 36% from the average daily volume of 320,259 shares. The stock had previously closed at C$2.48.

Analyst Upgrades and Downgrades

OGI has been the subject of several analyst reports. Canaccord Genuity Group raised their target price on Organigram from C$3.25 to C$3.60 and gave the stock a “speculative buy” rating in a research note on Wednesday, August 14th. Jefferies Financial Group cut their price objective on shares of Organigram from C$4.40 to C$4.35 in a research report on Friday, May 17th.

Organigram Stock Up 2.0 %

The company has a market cap of C$262.61 million, a PE ratio of -1.01, a P/E/G ratio of 0.42 and a beta of 1.13. The stock has a 50-day moving average of C$2.36 and a 200-day moving average of C$2.51. The company has a quick ratio of 2.62, a current ratio of 6.95 and a debt-to-equity ratio of 1.13.

Organigram (TSE:OGI) last released its quarterly earnings results on Tuesday, August 13th. The company reported C$0.03 earnings per share for the quarter, beating the consensus estimate of C($0.07) by C$0.10. The firm had revenue of C$41.06 million for the quarter, compared to analysts’ expectations of C$39.20 million. Organigram had a negative return on equity of 54.53% and a negative net margin of 153.80%. Sell-side analysts predict that Organigram Holdings Inc. will post 0.170096 earnings per share for the current fiscal year.

Insider Activity at Organigram

In other news, Senior Officer Paolo De Luca sold 10,266 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of C$2.76, for a total transaction of C$28,334.16. 27.16% of the stock is currently owned by 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.