Organigram (TSE:OGI) Stock Price Down 11% – What’s Next?

Shares of Organigram Holdings Inc. (TSE:OGI) fell 11% during mid-day trading on Tuesday . The stock traded as low as C$2.34 and last traded at C$2.35. 468,003 shares traded hands during trading, an increase of 131% from the average session volume of 202,513 shares. The stock had previously closed at C$2.64.

Organigram Stock Down 12.9%

The stock’s fifty day simple moving average is C$2.35 and its two-hundred day simple moving average is C$2.22. The company has a debt-to-equity ratio of 3.07, a current ratio of 3.36 and a quick ratio of 2.62. The company has a market capitalization of C$309.26 million, a price-to-earnings ratio of -11.86, a PEG ratio of 0.42 and a beta of 2.22.

Insider Transactions at Organigram

In other news, insider Paolo De Luca sold 12,007 shares of the company’s stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of C$2.49, for a total value of C$29,897.43. Following the completion of the sale, the insider owned 35,768 shares in the company, valued at C$89,062.32. This represents a 25.13% decrease in their ownership of the stock. Also, insider Katrina May Mcfadden sold 11,655 shares of Organigram stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of C$2.49, for a total value of C$29,020.95. Following the transaction, the insider directly owned 30,326 shares in the company, valued at approximately C$75,511.74. The trade was a 27.76% decrease in their ownership of the stock. Insiders have sold a total of 161,555 shares of company stock valued at $385,351 over the last ninety days. Insiders own 31.32% of the company’s stock.

Organigram Company Profile

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.