Organigram (TSE:OGI) Hits New 12-Month Low – Here’s What Happened

Organigram Holdings Inc. (TSE:OGI) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$1.65 and last traded at C$1.66, with a volume of 112769 shares changing hands. The stock had previously closed at C$1.66.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on OGI. ATB Capital dropped their target price on shares of Organigram from C$5.25 to C$3.50 in a research report on Tuesday, December 17th. Canaccord Genuity Group decreased their price target on shares of Organigram from C$3.60 to C$3.15 and set a “speculative buy” rating on the stock in a research note on Monday, December 9th.

Organigram Trading Up 2.5 %

The company’s 50 day moving average price is C$2.14 and its two-hundred day moving average price is C$2.28. The company has a debt-to-equity ratio of 3.07, a current ratio of 3.36 and a quick ratio of 2.62. The stock has a market capitalization of C$206.32 million, a PE ratio of -3.53, 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.