Organigram (TSE:OGI) Shares Down 16% - Here's What Happened

Organigram Holdings Inc. (TSE:OGI - Get Free Report)'s share price traded down 16% on Tuesday . The stock traded as low as C$2.07 and last traded at C$2.10. 233,905 shares traded hands during trading, an increase of 8% from the average session volume of 217,406 shares. The stock had previously closed at C$2.50.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Canaccord Genuity Group lowered their target price on Organigram from C$3.60 to C$3.15 and set a "speculative buy" rating on the stock in a report on Monday, December 9th. ATB Capital lowered their target price on Organigram from C$5.25 to C$3.50 in a report on Tuesday, December 17th.

Organigram Stock Down 5.7 %

The stock has a market capitalization of C$223.61 million, a price-to-earnings ratio of -3.83, a PEG ratio of 0.42 and a beta of 1.13. The business has a fifty day moving average of C$2.24 and a 200 day moving average of C$2.31. The company has a debt-to-equity ratio of 3.07, a current ratio of 3.36 and a quick ratio of 2.62.

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.