Organigram (TSE:OGI) Shares Down 4.5% – Here’s What Happened

Shares of Organigram Holdings Inc. (TSE:OGI) fell 4.5% during mid-day trading on Monday . The stock traded as low as C$2.10 and last traded at C$2.10. 270,900 shares traded hands during mid-day trading, an increase of 37% from the average session volume of 197,452 shares. The stock had previously closed at C$2.20.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OGI. Canaccord Genuity Group lowered their price objective on Organigram from C$3.60 to C$3.15 and set a “speculative buy” rating on the stock in a research report on Monday, December 9th. ATB Capital reduced their price objective on Organigram from C$5.25 to C$3.50 in a research note on Tuesday, December 17th.

Organigram Price Performance

The firm has a market cap of C$228.00 million, a PE ratio of -0.84, a price-to-earnings-growth ratio of 0.42 and a beta of 1.13. The stock has a 50 day simple moving average of C$2.22 and a 200-day simple moving average of C$2.32. The company has a current ratio of 6.95, a quick ratio of 2.62 and a debt-to-equity ratio of 1.13.

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.