Short Interest in Organigram Holdings Inc. (NASDAQ:OGI) Rises By 25.6%

Organigram Holdings Inc. (NASDAQ:OGI - Get Free Report) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 5,400,000 shares, an increase of 25.6% from the February 13th total of 4,300,000 shares. Based on an average trading volume of 991,800 shares, the days-to-cover ratio is currently 5.4 days. Currently, 6.5% of the shares of the company are sold short.

Institutional Investors Weigh In On Organigram

Several large investors have recently made changes to their positions in the company. Clear Harbor Asset Management LLC increased its stake 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 period. Toronto Dominion Bank increased its stake in shares of Organigram by 803.7% in the third 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 acquired a new stake in shares of Organigram in the fourth quarter valued at approximately $26,000. Renaissance Technologies LLC increased its stake in shares of Organigram by 2.4% in the fourth 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 period. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Organigram by 210.7% in the fourth quarter. Cubist Systematic Strategies LLC now owns 45,095 shares of the company's stock valued at $73,000 after purchasing an additional 30,583 shares during the period. Institutional investors and hedge funds own 34.63% of the company's stock.

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Organigram Trading Up 3.3 %

OGI traded up $0.04 on Friday, hitting $1.10. 167,483 shares of the company's stock were exchanged, compared to its average volume of 920,710. The firm has a market cap of $138.21 million, a PE ratio of -2.88 and a beta of 1.01. Organigram has a twelve month low of $0.96 and a twelve month high of $2.91. The stock has a fifty day moving average of $1.34 and a two-hundred day moving average of $1.56.

Organigram (NASDAQ:OGI - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Organigram had a negative return on equity of 8.59% and a negative net margin of 31.69%. On average, analysts predict that Organigram will post -0.19 EPS for the current year.

Organigram Company Profile

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.