Organigram (TSE:OGI) Stock Price Down 16% - What's Next?

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

Analyst Upgrades and Downgrades

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

Organigram Trading Down 5.7 %

The stock has a market cap of C$223.61 million, a price-to-earnings ratio of -3.83, a P/E/G ratio of 0.42 and a beta of 1.13. The business has a 50-day simple moving average of C$2.23 and a two-hundred day simple moving average of C$2.31. The company has a debt-to-equity ratio of 3.07, a quick ratio of 2.62 and a current ratio of 3.36.

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.