Organigram (TSE:OGI) Stock Price Down 0.8% - Time to Sell?

Organigram Holdings Inc. (TSE:OGI - Get Free Report)'s stock price fell 0.8% during trading on Monday . The company traded as low as C$2.55 and last traded at C$2.58. 393,737 shares traded hands during trading, an increase of 30% from the average session volume of 302,504 shares. The stock had previously closed at C$2.60.

Analyst Ratings Changes

Separately, Canaccord Genuity Group lifted their price objective on Organigram from C$3.25 to C$3.60 and gave the company a "speculative buy" rating in a report on Wednesday, August 14th.

Organigram Price Performance

The firm has a market cap of C$276.85 million, a PE ratio of -1.03, a price-to-earnings-growth ratio of 0.42 and a beta of 1.13. The company has a quick ratio of 2.62, a current ratio of 6.95 and a debt-to-equity ratio of 1.13. The stock has a 50 day moving average price of C$2.48 and a two-hundred day moving average price of C$2.40.

Organigram (TSE:OGI - Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported C$0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C($0.07) by C$0.10. The company had revenue of C$41.06 million during the quarter, compared to analyst estimates of C$39.20 million. Organigram had a negative return on equity of 54.53% and a negative net margin of 153.80%. As a group, equities analysts expect that Organigram Holdings Inc. will post 0.1632373 earnings per share for the current year.

Insiders Place Their Bets

In related news, Senior Officer Paolo De Luca sold 13,835 shares of Organigram stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of C$2.54, for a total transaction of C$35,140.90. Following the completion of the transaction, the insider now directly owns 625 shares in the company, valued at approximately C$1,587.50. This trade represents a 0.00 % decrease in their ownership of the stock. In the last three months, insiders have sold 36,115 shares of company stock valued at $93,750. Company insiders own 31.32% of the company's stock.

Organigram Company Profile

Organigram Holdings Inc, through its subsidiaries, engages in the production and sale of cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including whole flower, milled flower, pre-rolls, infused pre-rolls, vapes, gummies, and concentrates for medical retailers; adult use recreational cannabis under the SHRED, Holy Mountain, Big Bag O' Buds, Monjour, Trailblazer, SHRED'ems, Edison Cannabis Co, Edison JOLTS, Tremblant, and Laurentian brands.