Organigram Holdings Inc. (NASDAQ:OGI - Get Free Report) shares traded down 1.3% during trading on Friday . The stock traded as low as $1.53 and last traded at $1.55. 250,374 shares traded hands during trading, a decline of 53% from the average session volume of 534,901 shares. The stock had previously closed at $1.57.
Organigram Price Performance
The firm's 50-day simple moving average is $1.55 and its 200 day simple moving average is $1.68. The firm has a market capitalization of $195.55 million, a price-to-earnings ratio of -4.08 and a beta of 1.00.
Organigram (NASDAQ:OGI - Get Free Report) last posted its quarterly earnings results on Wednesday, December 18th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.01). Organigram had a negative return on equity of 11.68% and a negative net margin of 28.58%. As a group, research analysts predict that Organigram Holdings Inc. will post -0.09 earnings per share for the current year.
Hedge Funds Weigh In On Organigram
A number of institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its position in Organigram by 40.8% in the second quarter. Renaissance Technologies LLC now owns 816,948 shares of the company's stock valued at $1,258,000 after buying an additional 236,700 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of Organigram by 803.7% during the 3rd quarter. Toronto Dominion Bank now owns 16,727 shares of the company's stock valued at $30,000 after acquiring an additional 14,876 shares in the last quarter. Tidal Investments LLC grew its position in Organigram by 8.3% during the 3rd quarter. Tidal Investments LLC now owns 1,948,188 shares of the company's stock worth $3,526,000 after acquiring an additional 149,171 shares during the last quarter. Finally, Clear Harbor Asset Management LLC increased its holdings in Organigram by 37.4% in the 4th quarter. Clear Harbor Asset Management LLC now owns 45,000 shares of the company's stock worth $72,000 after purchasing an additional 12,250 shares in the last quarter. 34.63% of the stock is currently owned by institutional investors and hedge funds.
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.
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