Organigram Global (NASDAQ:OGI) Now Covered by Analysts at Canaccord Genuity Group

Stock analysts at Canaccord Genuity Group began coverage on shares of Organigram Global (NASDAQ:OGI) in a report issued on Tuesday. The firm set a “buy” rating on the stock.

OGI has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Organigram Global in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Organigram Global from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Organigram Global presently has an average rating of “Hold”.

Organigram Global Price Performance

Shares of NASDAQ:OGI traded up $0.03 during trading on Tuesday, reaching $1.63. 64,129 shares of the stock were exchanged, compared to its average volume of 862,070. Organigram Global has a 1-year low of $0.85 and a 1-year high of $2.24. The stock has a fifty day moving average of $1.69 and a two-hundred day moving average of $1.66. The firm has a market cap of $219.59 million, a price-to-earnings ratio of -14.68 and a beta of 1.52.

Organigram Global (NASDAQ:OGI) last issued its quarterly earnings data on Tuesday, December 16th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.19). Organigram Global had a negative net margin of 9.99% and a negative return on equity of 16.91%. The business had revenue of $57.53 million for the quarter, compared to analyst estimates of $73.02 million. Sell-side analysts forecast that Organigram Global will post -0.19 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OGI. PFS Partners LLC raised its holdings in shares of Organigram Global by 31.6% in the 3rd quarter. PFS Partners LLC now owns 25,000 shares of the company’s stock worth $51,000 after purchasing an additional 6,000 shares during the period. Baader Bank Aktiengesellschaft increased its position in Organigram Global by 5.3% in the third quarter. Baader Bank Aktiengesellschaft now owns 263,915 shares of the company’s stock worth $519,000 after buying an additional 13,271 shares during the last quarter. Cidel Asset Management Inc. increased its position in Organigram Global by 47.1% in the third quarter. Cidel Asset Management Inc. now owns 54,579 shares of the company’s stock worth $111,000 after buying an additional 17,476 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Organigram Global by 1,678.1% in the third quarter. Bank of America Corp DE now owns 37,357 shares of the company’s stock valued at $76,000 after buying an additional 35,256 shares during the period. Finally, Vontobel Holding Ltd. lifted its position in shares of Organigram Global by 140.5% during the 2nd quarter. Vontobel Holding Ltd. now owns 69,753 shares of the company’s stock valued at $94,000 after buying an additional 40,753 shares during the last quarter. 34.63% of the stock is owned by institutional investors.

Organigram Global Company Profile

Organigram Global Inc (NASDAQ: OGI) is a licensed producer of cannabis and hemp products headquartered in Moncton, New Brunswick, Canada. Founded in 2013, the company operates a state-of-the-art cultivation and manufacturing facility spanning more than one million square feet. Organigram holds licenses from Health Canada to produce and sell both medical and adult-use cannabis, and it pursues Good Manufacturing Practice (GMP) certification to support international exports.

The company’s product portfolio encompasses dried flower, pre-rolled joints, cannabis oils, capsules and soft gels, as well as vapourizer cartridges and extracts.