Organigram Holdings Inc. (NASDAQ:OGI - Get Free Report) traded up 1.6% on Monday . The stock traded as high as $1.90 and last traded at $1.88. 378,250 shares traded hands during trading, a decline of 61% from the average session volume of 967,091 shares. The stock had previously closed at $1.85.
Analyst Upgrades and Downgrades
Separately, Canaccord Genuity Group assumed coverage on Organigram in a report on Wednesday, July 17th. They set a "speculative buy" rating on the stock.
Read Our Latest Analysis on OGI
Organigram Stock Performance
The stock has a market capitalization of $204.13 million, a price-to-earnings ratio of -4.48 and a beta of 1.03. The business has a 50-day moving average of $1.82 and a 200-day moving average of $1.75.
Organigram (NASDAQ:OGI - Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.07. The firm had revenue of $30.01 million during the quarter, compared to analysts' expectations of $28.67 million. Organigram had a negative return on equity of 16.76% and a negative net margin of 45.57%. On average, research analysts predict that Organigram Holdings Inc. will post -0.21 earnings per share for the current fiscal year.
Institutional Trading of Organigram
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC purchased a new position in shares of Organigram during the 1st quarter worth approximately $3,736,000. Murchinson Ltd. purchased a new position in shares of Organigram during the 1st quarter worth approximately $1,737,000. CVI Holdings LLC purchased a new position in shares of Organigram during the 1st quarter worth approximately $825,000. Renaissance Technologies LLC raised its stake in shares of Organigram by 40.8% during the 2nd quarter. Renaissance Technologies LLC now owns 816,948 shares of the company's stock worth $1,258,000 after buying an additional 236,700 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Organigram during the 1st quarter worth approximately $340,000. 34.63% of the stock is owned by hedge funds and other institutional investors.
About Organigram
(
Get Free Report)
Organigram Holdings Inc, through its subsidiaries, engages in the production and sale of cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including whole flower, milled flower, pre-rolls, infused pre-rolls, vapes, gummies, and concentrates for medical retailers; adult use recreational cannabis under the SHRED, Holy Mountain, Big Bag O' Buds, Monjour, Trailblazer, SHRED'ems, Edison Cannabis Co, Edison JOLTS, Tremblant, and Laurentian brands.
See Also
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