Organigram (TSE:OGI) Trading 9.1% Higher – Here’s Why

Organigram Holdings Inc. (TSE:OGI)’s stock price traded up 9.1% on Wednesday . The stock traded as high as C$1.93 and last traded at C$1.91. 224,646 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 257,132 shares. The stock had previously closed at C$1.75.

Analyst Upgrades and Downgrades

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

Organigram Stock Performance

The stock has a fifty day simple moving average of C$2.26 and a 200-day simple moving average of C$2.30. The stock has a market cap of C$255.41 million, a P/E ratio of 12.27, a PEG ratio of 0.42 and a beta of 1.97. The company has a debt-to-equity ratio of 3.07, a quick ratio of 2.62 and a current ratio of 3.36.

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.