Organigram (TSE:OGI) Hits New 1-Year Low - Here's What Happened

Organigram Holdings Inc. (TSE:OGI - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The company traded as low as C$1.77 and last traded at C$1.78, with a volume of 212154 shares trading hands. The stock had previously closed at C$1.83.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OGI. Canaccord Genuity Group dropped 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. ATB Capital decreased their price objective on shares of Organigram from C$5.25 to C$3.50 in a report on Tuesday, December 17th.

Organigram Stock Down 4.6 %

The company has a quick ratio of 2.62, a current ratio of 3.36 and a debt-to-equity ratio of 3.07. The business has a 50-day simple moving average of C$2.17 and a 200-day simple moving average of C$2.29. The stock has a market cap of C$206.32 million, a P/E ratio of -3.53, a PEG 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.