Organigram (TSE:OGI) Trading 12.3% Higher

Organigram Holdings Inc. (TSE:OGI) shares rose 12.3% during trading on Tuesday . The stock traded as high as C$3.84 and last traded at C$3.84. Approximately 196,723 shares traded hands during trading, a decline of 34% from the average daily volume of 298,177 shares. The stock had previously closed at C$3.42.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OGI. Canaccord Genuity Group lowered their price target on shares of Organigram from C$4.00 to C$3.75 in a report on Wednesday, December 20th. ATB Capital upped their price target on shares of Organigram from C$5.50 to C$6.50 and gave the stock an “outperform” rating in a report on Wednesday, December 20th. Alliance Global Partners upped their price target on shares of Organigram from C$2.00 to C$2.70 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, Jefferies Financial Group reduced their price objective on shares of Organigram from C$4.95 to C$4.40 and set a “buy” rating on the stock in a research note on Tuesday, February 27th.

Organigram Trading Down 14.8 %

The company has a quick ratio of 2.62, a current ratio of 6.95 and a debt-to-equity ratio of 1.75. The company has a market cap of C$292.65 million, a P/E ratio of -1.24, a PEG ratio of 0.42 and a beta of 1.11. The firm’s 50 day moving average is C$2.73 and its two-hundred day moving average is C$2.12.

Organigram (TSE:OGI) last issued its quarterly earnings results on Tuesday, February 13th. The company reported C($0.19) EPS for the quarter, missing analysts’ consensus estimates of C($0.13) by C($0.06). The firm had revenue of C$36.46 million for the quarter, compared to the consensus estimate of C$38.13 million. Organigram had a negative net margin of 153.80% and a negative return on equity of 54.53%. As a group, equities research analysts anticipate that Organigram Holdings Inc. will post 0.09952 EPS for the current year.

Insider Buying and Selling at Organigram

In other Organigram news, Director Donald Geoffrey Machum sold 23,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of C$2.74, for a total transaction of C$62,964.80. Insiders own 34.74% 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.