OrganiGram (CVE:OGI) was upgraded by analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report released on Friday, BayStreet.CA reports. The brokerage currently has a C$8.20 target price on the stock, down from their previous target price of C$10.50. Jefferies Financial Group’s price objective would suggest a potential upside of 31.83% from the company’s previous close.
Separately, CIBC set a C$9.00 price objective on shares of OrganiGram and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. OrganiGram presently has a consensus rating of “Buy” and an average price target of C$10.03.
CVE OGI remained flat at $C$6.22 during trading on Friday. 671,781 shares of the company’s stock traded hands, compared to its average volume of 1,315,291. The business’s 50-day moving average price is C$6.26 and its two-hundred day moving average price is C$8.18. The company has a debt-to-equity ratio of 14.71, a quick ratio of 4.14 and a current ratio of 9.06. OrganiGram has a twelve month low of C$4.11 and a twelve month high of C$11.30. The firm has a market cap of $661.23 million and a price-to-earnings ratio of 28.02.
OrganiGram Holdings Inc, through its subsidiaries, produces and sells dried cannabis and cannabis oil in Canada. It also offers wholesale shipping of cannabis plant cuttings, dried flowers, blends, pre-rolls, and cannabis oils to retailers and wholesalers. The company also exports its products. It sells its products online, as well as through phone orders.
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