OrganiGram (CVE:OGI) issued its quarterly earnings results on Monday, April 15th. The company reported C($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.04 by C($0.09), Morningstar.com reports. The firm had revenue of C$26.93 million during the quarter, compared to analysts’ expectations of C$26.27 million.
OrganiGram stock traded down C$0.31 during mid-day trading on Thursday, reaching C$9.04. 1,366,942 shares of the stock traded hands, compared to its average volume of 1,661,348. The stock has a market cap of $1.43 billion and a PE ratio of 28.70. The company has a debt-to-equity ratio of 22.49, a quick ratio of 1.38 and a current ratio of 3.13. OrganiGram has a 12-month low of C$4.11 and a 12-month high of C$10.37.
A number of research firms recently weighed in on OGI. Canaccord Genuity boosted their target price on OrganiGram from C$8.50 to C$10.50 in a research note on Tuesday, April 16th. Cormark lifted their price target on OrganiGram from C$5.50 to C$8.50 in a research report on Tuesday, January 29th. Pi Financial boosted their target price on OrganiGram from C$8.00 to C$10.00 in a report on Tuesday, January 29th. Finally, Jefferies Financial Group downgraded OrganiGram from a “buy” rating to a “hold” rating and boosted their target price for the stock from C$10.00 to C$10.50 in a report on Friday, May 3rd.
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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