Organigram (TSE:OGI) Trading Up 2% – Time to Buy?

Organigram Holdings Inc. (TSE:OGI)’s share price was up 2% on Monday . The stock traded as high as C$2.07 and last traded at C$2.05. Approximately 230,977 shares were traded during mid-day trading, an increase of 8% from the average daily volume of 214,491 shares. The stock had previously closed at C$2.01.

Wall Street Analyst Weigh In

Several research analysts have weighed in on OGI shares. Canaccord Genuity Group set a C$3.00 price objective on shares of Organigram and gave the company a “buy” rating in a research note on Tuesday, January 27th. ATB Cormark Capital Markets lowered 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 research note on Wednesday, February 11th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$3.13.

Organigram Trading Up 9.6%

The company’s 50 day moving average price is C$1.93 and its 200 day moving average price is C$2.19. The company has a market cap of C$305.18 million, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 0.42 and a beta of 1.54. The company has a debt-to-equity ratio of 2.29, a quick ratio of 2.62 and a current ratio of 2.73.

Insider Activity at Organigram

In other news, Director Donald Geoffrey Machum sold 17,929 shares of the stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of C$1.86, for a total transaction of C$33,347.94. Following the transaction, the director owned 1,125 shares in the company, valued at C$2,092.50. This represents a 94.10% decrease in their position. In the last quarter, insiders have sold 76,647 shares of company stock worth $142,753. Corporate 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.