Organigram (TSE:OGI) Trading 2% Higher

Organigram Holdings Inc. (TSE:OGI) shares shot up 2% during mid-day trading on Wednesday . The company traded as high as C$2.56 and last traded at C$2.53. 205,712 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 320,259 shares. The stock had previously closed at C$2.48.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on OGI shares. Canaccord Genuity Group boosted their target price on shares of Organigram from C$3.25 to C$3.60 and gave the stock a “speculative buy” rating in a report on Wednesday, August 14th. Jefferies Financial Group reduced their price objective on shares of Organigram from C$4.40 to C$4.35 in a research note on Friday, May 17th.

Organigram Stock Up 2.0 %

The company has a market cap of C$262.61 million, a P/E ratio of -1.01, a price-to-earnings-growth ratio of 0.42 and a beta of 1.13. The firm’s 50 day moving average price is C$2.36 and its two-hundred day moving average price is C$2.51. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.62 and a current ratio of 6.95.

Organigram (TSE:OGI) last issued its earnings results on Tuesday, August 13th. The company reported C$0.03 EPS for the quarter, beating the consensus estimate of C($0.07) by C$0.10. Organigram had a negative return on equity of 54.53% and a negative net margin of 153.80%. The company had revenue of C$41.06 million during the quarter, compared to the consensus estimate of C$39.20 million. Equities research analysts anticipate that Organigram Holdings Inc. will post 0.170096 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Senior Officer Paolo De Luca sold 10,266 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of C$2.76, for a total transaction of C$28,334.16. 27.16% of the stock is currently owned by corporate 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.