Organigram (TSE:OGI) Trading Down 0.4% – Time to Sell?

Shares of Organigram Holdings Inc. (TSE:OGI) were down 0.4% during trading on Friday . The stock traded as low as C$2.37 and last traded at C$2.38. Approximately 95,488 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 309,231 shares. The stock had previously closed at C$2.39.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lifted their target price on shares of Organigram from C$3.25 to C$3.60 and gave the company a “speculative buy” rating in a report on Wednesday, August 14th.

Organigram Price Performance

The stock has a fifty day moving average of C$2.42 and a two-hundred day moving average of C$2.48. The stock has a market cap of C$258.40 million, a price-to-earnings ratio of -0.95, a price-to-earnings-growth ratio of 0.42 and a beta of 1.13. 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 announced its quarterly earnings results on Tuesday, August 13th. The company reported C$0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C($0.07) by C$0.10. The business had revenue of C$41.06 million during the quarter, compared to the consensus estimate of C$39.20 million. Organigram had a negative net margin of 153.80% and a negative return on equity of 54.53%. On average, equities research analysts anticipate that Organigram Holdings Inc. will post 0.1639232 earnings per share for the current year.

Insider Transactions at Organigram

In related news, Senior Officer Paolo De Luca sold 13,835 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of C$2.54, for a total value of C$35,140.90. Following the completion of the transaction, the insider now directly owns 625 shares of the company’s stock, valued at C$1,587.50. This trade represents a 0.00 % decrease in their position. Corporate insiders own 31.32% of the company’s stock.

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.