Organigram (TSE:OGI) Trading Down 10.6% – Should You Sell?

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

Analyst Ratings Changes

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

Organigram Price Performance

The company has a current ratio of 2.73, a quick ratio of 2.62 and a debt-to-equity ratio of 2.29. The company has a 50 day moving average of C$1.94 and a 200-day moving average of C$2.12. The firm has a market capitalization of C$217.99 million, a P/E ratio of 10.06, a P/E/G 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 company’s stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of C$1.86, for a total value of C$33,347.94. Following the transaction, the director directly owned 1,125 shares in the company, valued at approximately C$2,092.50. This represents a 94.10% decrease in their ownership of the stock. Insiders have sold a total of 76,647 shares of company stock valued at $142,753 over the last three months. 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.