Organigram (TSE:OGI) Shares Down 10.6% – Time to Sell?

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

Analyst Ratings Changes

OGI has been the topic of a number of analyst reports. Canaccord Genuity Group set a C$3.00 price target on Organigram and gave the stock a “buy” rating in a research report on Tuesday, January 27th. ATB Cormark Capital Markets lowered Organigram from a “strong-buy” rating to a “moderate buy” rating and reduced their target price for the stock 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 presently has a consensus rating of “Buy” and an average price target of C$3.13.

Organigram Stock 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 market cap of C$217.99 million, a P/E ratio of 10.06, a price-to-earnings-growth ratio of 0.42 and a beta of 1.72. The company has a 50 day moving average price of C$1.94 and a 200-day moving average price of C$2.12.

Insider Activity at Organigram

In other news, Director Donald Geoffrey Machum sold 17,929 shares of the firm’s stock in a transaction that occurred on 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 sale, the director directly owned 1,125 shares in the company, valued at approximately C$2,092.50. This trade represents a 94.10% decrease in their position. Insiders have sold a total of 76,647 shares of company stock valued at $142,753 over the last three months. 31.32% of the stock is currently owned by corporate insiders.

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.