Organigram (TSE:OGI) Trading Up 9.8% – Time to Buy?

Organigram Holdings Inc. (TSE:OGI) shares shot up 9.8% on Wednesday . The stock traded as high as C$2.36 and last traded at C$2.35. 157,768 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 190,548 shares. The stock had previously closed at C$2.14.

Analyst Ratings Changes

A number of research analysts have weighed in on OGI shares. ATB Capital cut their price objective on shares of Organigram from C$5.25 to C$3.50 in a research report on Tuesday, December 17th. Canaccord Genuity Group reduced their target price on shares of Organigram from C$3.60 to C$3.15 and set a “speculative buy” rating for the company in a report on Monday, December 9th.

Organigram Stock Up 9.3 %

The business has a 50 day simple moving average of C$2.22 and a 200-day simple moving average of C$2.32. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.62 and a current ratio of 6.95. The firm has a market capitalization of C$254.05 million, a price-to-earnings ratio of -0.93, a P/E/G ratio of 0.42 and a beta of 1.13.

About Organigram

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.