Organigram (TSE:OGI) Stock Price Down 16% – Time to Sell?

Shares of Organigram Holdings Inc. (TSE:OGI) traded down 16% during trading on Tuesday . The company traded as low as C$2.07 and last traded at C$2.10. 233,905 shares changed hands during trading, an increase of 8% from the average session volume of 217,406 shares. The stock had previously closed at C$2.50.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Canaccord Genuity Group dropped their price objective 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. ATB Capital dropped their price objective on Organigram from C$5.25 to C$3.50 in a report on Tuesday, December 17th.

Organigram Trading Down 18.0 %

The stock has a market capitalization of C$222.57 million, a price-to-earnings ratio of -0.82, a P/E/G ratio of 0.42 and a beta of 1.13. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.62 and a current ratio of 6.95. The firm has a fifty day moving average of C$2.24 and a 200-day moving average of C$2.32.

About Organigram

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.