Organigram Global (NASDAQ:OGI) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Organigram Global (NASDAQ:OGI) from a sell rating to a hold rating in a report issued on Saturday morning.

Several other brokerages have also commented on OGI. Canaccord Genuity Group started coverage on shares of Organigram Global in a research report on Tuesday, January 27th. They issued a “buy” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Organigram Global in a research note on Monday, December 29th. Finally, ATB Cormark Capital Markets downgraded shares of Organigram Global from a “strong-buy” rating to a “moderate buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Organigram Global Price Performance

Organigram Global stock opened at $1.29 on Friday. Organigram Global has a 1-year low of $0.85 and a 1-year high of $2.24. The business has a fifty day moving average price of $1.66 and a 200-day moving average price of $1.66. The stock has a market capitalization of $174.32 million, a price-to-earnings ratio of 9.21 and a beta of 1.60.

Organigram Global (NASDAQ:OGI) last released its quarterly earnings results on Tuesday, February 10th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The business had revenue of $46.27 million during the quarter, compared to analysts’ expectations of $73.38 million. Organigram Global had a net margin of 6.03% and a negative return on equity of 15.41%. On average, equities research analysts anticipate that Organigram Global will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OGI. Walleye Capital LLC purchased a new stake in Organigram Global in the fourth quarter valued at $25,000. HRT Financial LP acquired a new position in shares of Organigram Global in the 4th quarter valued at about $52,000. StoneX Group Inc. purchased a new stake in shares of Organigram Global in the fourth quarter worth about $30,000. Renaissance Technologies LLC grew its holdings in Organigram Global by 43.2% during the fourth quarter. Renaissance Technologies LLC now owns 1,405,348 shares of the company’s stock worth $2,361,000 after acquiring an additional 423,900 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Organigram Global by 16.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 193,547 shares of the company’s stock valued at $325,000 after acquiring an additional 26,733 shares in the last quarter. 34.63% of the stock is currently owned by institutional investors and hedge funds.

About Organigram Global

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.