Organigram Holdings Inc. (NASDAQ:OGI - Get Free Report) saw a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 4,300,000 shares, a growth of 58.1% from the January 31st total of 2,720,000 shares. Currently, 4.8% of the shares of the stock are short sold. Based on an average daily volume of 911,500 shares, the short-interest ratio is currently 4.7 days.
Organigram Stock Performance
Shares of Organigram stock traded up $0.02 during midday trading on Wednesday, hitting $1.12. 905,282 shares of the company traded hands, compared to its average volume of 990,092. The stock has a market cap of $141.36 million, a price-to-earnings ratio of -2.95 and a beta of 1.01. The firm's fifty day moving average price is $1.48 and its 200-day moving average price is $1.62. Organigram has a 12 month low of $1.02 and a 12 month high of $2.91.
Organigram (NASDAQ:OGI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02). Organigram had a negative return on equity of 8.59% and a negative net margin of 31.69%. Equities research analysts forecast that Organigram will post -0.19 earnings per share for the current year.
Institutional Trading of Organigram
Several institutional investors and hedge funds have recently modified their holdings of the stock. Clear Harbor Asset Management LLC raised its holdings in shares of Organigram by 37.4% in the fourth quarter. Clear Harbor Asset Management LLC now owns 45,000 shares of the company's stock valued at $72,000 after purchasing an additional 12,250 shares during the last quarter. Toronto Dominion Bank grew its stake in Organigram by 803.7% in the 3rd quarter. Toronto Dominion Bank now owns 16,727 shares of the company's stock valued at $30,000 after purchasing an additional 14,876 shares during the period. Two Sigma Securities LLC purchased a new stake in shares of Organigram during the 4th quarter valued at $26,000. Renaissance Technologies LLC increased its position in shares of Organigram by 2.4% during the 4th quarter. Renaissance Technologies LLC now owns 914,648 shares of the company's stock valued at $1,473,000 after purchasing an additional 21,200 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Organigram by 210.7% during the 4th quarter. Cubist Systematic Strategies LLC now owns 45,095 shares of the company's stock worth $73,000 after purchasing an additional 30,583 shares during the period. 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.
Further Reading
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