Organigram (TSE:OGI) Sets New 52-Week Low – Should You Sell?

Shares of Organigram Holdings Inc. (TSE:OGI) hit a new 52-week low during trading on Tuesday . The stock traded as low as C$1.44 and last traded at C$1.44, with a volume of 94564 shares trading hands. The stock had previously closed at C$1.48.

Wall Street Analyst Weigh In

OGI has been the topic of several recent analyst reports. ATB Cormark Capital Markets downgraded 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 research report on Wednesday, February 11th. Canaccord Genuity Group set a C$3.00 price objective on shares of Organigram and gave the company a “buy” rating in a research report on Tuesday, January 27th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$3.13.

Organigram Price Performance

The firm has a 50 day moving average of C$1.87 and a 200-day moving average of C$2.08. The company has a market cap of C$221.02 million, a P/E ratio of -7.34, a P/E/G ratio of 0.42 and a beta of 1.72. The company has a current ratio of 2.82, a quick ratio of 2.62 and a debt-to-equity ratio of 2.20.

Insider Transactions at Organigram

In other Organigram news, Director Donald Geoffrey Machum sold 17,929 shares of Organigram stock in a transaction 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. The trade was a 94.10% decrease in their position. In the last 90 days, insiders have sold 76,647 shares of company stock valued at $142,753. 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.