Organigram (TSE:OGI) Shares Down 10.6% – Time to Sell?

Organigram Holdings Inc. (TSE:OGI)’s stock price dropped 10.6% on Tuesday . The stock traded as low as C$1.52 and last traded at C$1.61. Approximately 157,996 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 211,241 shares. The stock had previously closed at C$1.80.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. ATB Cormark Capital Markets downgraded shares of Organigram from a “strong-buy” rating to a “moderate buy” rating and dropped their price objective for the company from C$3.50 to C$3.25 in a report on Wednesday, February 11th. Canaccord Genuity Group set a C$3.00 target price on shares of Organigram and gave the stock a “buy” rating in a report on Tuesday, January 27th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Organigram has a consensus rating of “Buy” and a consensus price target of C$3.13.

Organigram Stock Performance

The company has a current ratio of 2.82, a quick ratio of 2.62 and a debt-to-equity ratio of 2.20. The firm’s fifty day moving average is C$1.92 and its 200 day moving average is C$2.11. The company has a market cap of C$210.95 million, a PE ratio of 9.74, a price-to-earnings-growth ratio of 0.42 and a beta of 1.72.

Insider Activity

In related news, Director Donald Geoffrey Machum sold 17,929 shares of the business’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of C$1.86, for a total transaction of C$33,347.94. Following the completion of the sale, the director directly owned 1,125 shares in the company, valued at approximately C$2,092.50. The trade was a 94.10% decrease in their ownership of the stock. Insiders sold 76,647 shares of company stock valued at $142,753 over the last quarter. Insiders own 31.32% of the company’s stock.

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.