OrganiGram Holdings Inc. (TSE:OGI) reached a new 52-week low on Friday . The stock traded as low as C$2.02 and last traded at C$2.02, with a volume of 904876 shares changing hands. The stock had previously closed at C$2.07.
Several equities analysts recently weighed in on OGI shares. CIBC reiterated a “neutral” rating on shares of OrganiGram in a research report on Friday, September 24th. ATB Capital lifted their target price on OrganiGram from C$2.65 to C$3.00 and gave the company a “sector perform” rating in a research report on Wednesday. Raymond James reiterated an “outperform” rating and set a C$5.00 target price on shares of OrganiGram in a research report on Monday. Alliance Global Partners lowered their price objective on OrganiGram from C$4.00 to C$2.25 and set an “underperform” rating on the stock in a research report on Friday, January 7th. Finally, Canaccord Genuity Group upgraded OrganiGram from a “hold” rating to a “speculative buy” rating and boosted their price objective for the company from C$3.00 to C$3.25 in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$3.43.
The company has a 50 day simple moving average of C$2.50 and a two-hundred day simple moving average of C$2.92. The company has a quick ratio of 7.79, a current ratio of 9.92 and a debt-to-equity ratio of 1.24. The company has a market capitalization of C$634.07 million and a P/E ratio of -4.06.
About OrganiGram (TSE:OGI)
Organigram Holdings Inc, through its subsidiaries, produces and sells cannabis and cannabis-derived products in Canada. It offers cannabis flowers, extracts, edibles and oils, beverages, and other cannabis products for adult recreational market under the Edison Reserve, Edison Cannabis Co, ANKR Organics, and Trailblazer brands; and medical cannabis products, including strains, cannabis oils, extracts, edibles, beverages, and vaporizers for the medical market.
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