OrganiGram (OGI) Sets New 52-Week High at $11.30

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OrganiGram Holdings Inc (CVE:OGI)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as C$11.30 and last traded at C$10.53, with a volume of 3092301 shares. The stock had previously closed at C$10.72.

OGI has been the topic of a number of recent analyst reports. Jefferies Financial Group set a C$10.00 price objective on OrganiGram and gave the stock a “buy” rating in a research note on Monday, February 25th. Pi Financial lifted their price objective on OrganiGram from C$8.00 to C$10.00 in a research note on Tuesday, January 29th. Cormark lifted their price objective on OrganiGram from C$5.50 to C$8.50 in a research note on Tuesday, January 29th. Finally, Canaccord Genuity lifted their price objective on OrganiGram from C$8.50 to C$10.50 in a research note on Tuesday, April 16th.

The company has a quick ratio of 1.38, a current ratio of 3.13 and a debt-to-equity ratio of 22.49. The company has a market cap of $1.54 billion and a PE ratio of 30.89.

OrganiGram (CVE:OGI) last issued its quarterly earnings results on Monday, April 15th. The company reported C($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.04 by C($0.09). The company had revenue of C$26.93 million during the quarter, compared to analysts’ expectations of C$26.27 million. As a group, equities analysts forecast that OrganiGram Holdings Inc will post 0.25 EPS for the current fiscal year.

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About OrganiGram (CVE:OGI)

OrganiGram Holdings Inc, through its subsidiaries, produces and sells dried cannabis and cannabis oil in Canada. It also offers wholesale shipping of cannabis plant cuttings, dried flowers, blends, pre-rolls, and cannabis oils to retailers and wholesalers. The company also exports its products. It sells its products online, as well as through phone orders.

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