Organigram (TSE:OGI) Reaches New 1-Year Low – Time to Sell?

Organigram Holdings Inc. (TSE:OGI)’s share price reached a new 52-week low on Wednesday . The company traded as low as C$1.51 and last traded at C$1.53, with a volume of 176665 shares. The stock had previously closed at C$1.54.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OGI. ATB Cormark Capital Markets cut shares of Organigram from a “strong-buy” rating to a “moderate buy” rating and decreased their target price for the company from C$3.50 to C$3.25 in a research report on Wednesday, February 11th. Canaccord Genuity Group set a C$3.00 price target on Organigram and gave the company a “buy” rating in a research note on Tuesday, January 27th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Organigram currently has an average rating of “Buy” and a consensus price target of C$3.13.

Organigram Price Performance

The firm has a market cap of C$216.58 million, a PE ratio of 10.00, a price-to-earnings-growth ratio of 0.42 and a beta of 1.72. The stock has a 50 day simple moving average of C$1.93 and a two-hundred day simple moving average of C$2.12. The company has a debt-to-equity ratio of 2.29, a quick ratio of 2.62 and a current ratio of 2.73.

Insider Buying and Selling

In other news, Director Donald Geoffrey Machum sold 17,929 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of C$1.86, for a total transaction of C$33,347.94. Following the sale, the director owned 1,125 shares of the company’s stock, valued at C$2,092.50. This trade represents a 94.10% decrease in their position. In the last 90 days, insiders sold 76,647 shares of company stock valued at $142,753. Corporate insiders own 31.32% of the company’s stock.

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.