OrganiGram Holdings Inc (NASDAQ:OGI) saw a large growth in short interest during the month of November. As of November 29th, there was short interest totalling 10,200,000 shares, a growth of 50.2% from the November 14th total of 6,790,000 shares. Based on an average daily volume of 2,386,700 shares, the short-interest ratio is presently 4.3 days. Approximately 6.8% of the company’s shares are short sold.
Shares of NASDAQ OGI traded down $0.02 during mid-day trading on Wednesday, reaching $2.56. The company had a trading volume of 1,503,046 shares, compared to its average volume of 1,352,563. The firm has a market cap of $402.94 million and a PE ratio of 42.67. OrganiGram has a 52 week low of $2.00 and a 52 week high of $8.44. The stock’s 50-day moving average price is $2.96. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.88 and a current ratio of 4.47.
A number of research firms recently weighed in on OGI. BMO Capital Markets lowered shares of OrganiGram from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 12th. AltaCorp Capital lowered OrganiGram from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, November 26th. Jefferies Financial Group raised OrganiGram from a “hold” rating to a “buy” rating and set a $8.20 target price on the stock in a research note on Friday, October 11th. Cantor Fitzgerald began coverage on OrganiGram in a report on Tuesday, November 5th. They issued an “overweight” rating and a $17.10 price target on the stock. Finally, Zacks Investment Research lowered OrganiGram from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. OrganiGram presently has a consensus rating of “Buy” and a consensus price target of $9.80.
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.
Featured Story: What is the CBOE Russell 2000® Volatility Index?
Receive News & Ratings for OrganiGram Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OrganiGram and related companies with MarketBeat.com's FREE daily email newsletter.