Canaccord Genuity Group Issues Pessimistic Forecast for Organigram (TSE:OGI) Stock Price

Organigram (TSE:OGI) had its target price cut by stock analysts at Canaccord Genuity Group from C$3.60 to C$3.15 in a research report issued on Monday,BayStreet.CA reports. The firm presently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 45.16% from the stock’s previous close.

Organigram Trading Down 2.7 %

TSE:OGI opened at C$2.17 on Monday. The company has a debt-to-equity ratio of 1.13, a current ratio of 6.95 and a quick ratio of 2.62. Organigram has a fifty-two week low of C$1.61 and a fifty-two week high of C$3.95. The stock’s 50-day moving average is C$2.29 and its two-hundred day moving average is C$2.32. The stock has a market cap of C$235.60 million, a PE ratio of -0.87, a price-to-earnings-growth ratio of 0.42 and a beta of 1.13.

Insider Buying and Selling at Organigram

In other news, Senior Officer Paolo De Luca sold 12,014 shares of Organigram stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of C$2.52, for a total transaction of C$30,275.28. Company insiders own 31.32% of the company’s stock.

About Organigram

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.