Organigram (TSE:OGI) Sets New 52-Week Low – What’s Next?

Organigram Holdings Inc. (TSE:OGI)’s stock price reached a new 52-week low during trading 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.

Analyst Upgrades and Downgrades

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

Organigram Stock Down 1.3%

The company has a current ratio of 2.82, a quick ratio of 2.62 and a debt-to-equity ratio of 2.20. The stock’s 50-day moving average is C$1.91 and its 200-day moving average is C$2.11. The company has a market cap of C$208.14 million, a price-to-earnings ratio of 9.61, a P/E/G ratio of 0.42 and a beta of 1.72.

Insider Activity

In related news, Director Donald Geoffrey Machum sold 17,929 shares of the business’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of C$1.86, for a total transaction of C$33,347.94. Following the transaction, the director owned 1,125 shares in the company, valued at C$2,092.50. The trade was a 94.10% decrease in their position. In the last 90 days, insiders have sold 76,647 shares of company stock worth $142,753. 31.32% of the stock is owned by insiders.

About Organigram

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.