Organigram (TSE:OGI) Price Target Cut to C$3.50 by Analysts at ATB Capital

Organigram (TSE:OGI) had its target price dropped by investment analysts at ATB Capital from C$5.25 to C$3.50 in a research note issued to investors on Tuesday,BayStreet.CA reports. ATB Capital’s price objective would indicate a potential upside of 53.51% from the stock’s current price.

Separately, Canaccord Genuity Group reduced their price target 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 Stock Up 4.6 %

OGI traded up C$0.10 on Tuesday, reaching C$2.28. The company’s stock had a trading volume of 263,204 shares, compared to its average volume of 293,995. The stock has a market cap of C$247.54 million, a price-to-earnings ratio of -0.92, a price-to-earnings-growth ratio of 0.42 and a beta of 1.13. Organigram has a 1 year low of C$1.61 and a 1 year high of C$3.95. The company has a debt-to-equity ratio of 1.13, a current ratio of 6.95 and a quick ratio of 2.62. The business’s 50 day moving average is C$2.27 and its 200 day moving average is C$2.31.

Insider Activity at Organigram

In other news, Senior Officer Paolo De Luca sold 12,014 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of C$2.52, for a total transaction of C$30,275.28. 31.32% of the stock is owned by insiders.

About Organigram

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.