Organigram (TSE:OGI) Stock Price Down 16% – Time to Sell?

Organigram Holdings Inc. (TSE:OGI)’s stock price was down 16% on Tuesday . The company traded as low as C$2.07 and last traded at C$2.10. Approximately 233,905 shares changed hands during mid-day trading, an increase of 8% from the average daily volume of 217,406 shares. The stock had previously closed at C$2.50.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on OGI shares. Canaccord Genuity Group decreased their price objective on shares of Organigram from C$3.60 to C$3.15 and set a “speculative buy” rating for the company in a research report on Monday, December 9th. ATB Capital decreased their price objective on shares of Organigram from C$5.25 to C$3.50 in a research report on Tuesday, December 17th.

Organigram Stock Down 18.0 %

The company has a debt-to-equity ratio of 1.13, a current ratio of 6.95 and a quick ratio of 2.62. The firm’s 50-day moving average price is C$2.24 and its 200 day moving average price is C$2.32. The firm has a market cap of C$222.57 million, a P/E ratio of -0.82, a PEG ratio of 0.42 and a beta 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.