OrganiGram (TSE:OGI) had its target price lowered by investment analysts at Alliance Global Partners from C$4.00 to C$2.25 in a research note issued on Friday, The Fly reports. The brokerage currently has an “underperform” rating on the stock. Alliance Global Partners’ target price suggests a potential upside of 8.70% from the company’s previous close.
Several other research firms have also issued reports on OGI. Raymond James reiterated an “outperform” rating and issued a C$5.00 target price on shares of OrganiGram in a research note on Wednesday, December 22nd. ATB Capital decreased their target price on shares of OrganiGram from C$4.25 to C$2.65 in a research report on Wednesday, November 24th. CIBC reaffirmed a “neutral” rating on shares of OrganiGram in a report on Friday, September 24th. Jefferies Financial Group decreased their price objective on OrganiGram from C$3.83 to C$3.49 and set a “market perform” rating for the company in a report on Tuesday, November 30th. Finally, dropped their target price on OrganiGram from C$3.50 to C$3.00 in a research note on Wednesday, November 24th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$3.41.
TSE OGI traded up C$0.01 during trading on Friday, reaching C$2.07. 1,438,746 shares of the company’s stock traded hands, compared to its average volume of 1,527,944. The company’s 50 day simple moving average is C$2.57 and its two-hundred day simple moving average is C$2.97. OrganiGram has a 12-month low of C$1.93 and a 12-month high of C$8.00. The firm has a market cap of C$643.23 million and a price-to-earnings ratio of -4.06. The company has a debt-to-equity ratio of 1.24, a current ratio of 9.92 and a quick ratio of 7.79.
OrganiGram (TSE:OGI) last posted its earnings results on Tuesday, November 23rd. The company reported C($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.05) by C($0.04). The business had revenue of C$24.87 million during the quarter, compared to the consensus estimate of C$23.89 million. Research analysts expect that OrganiGram will post -0.06 earnings per share for the current fiscal year.
OrganiGram Company Profile
Organigram Holdings Inc, through its subsidiaries, produces and sells cannabis and cannabis-derived products in Canada. It offers cannabis flowers, extracts, edibles and oils, beverages, and other cannabis products for adult recreational market under the Edison Reserve, Edison Cannabis Co, ANKR Organics, and Trailblazer brands; and medical cannabis products, including strains, cannabis oils, extracts, edibles, beverages, and vaporizers for the medical market.
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