Organigram Global (NASDAQ:OGI) Trading Down 0.7% – Should You Sell?

Organigram Global Inc. (NASDAQ:OGI)’s share price fell 0.7% during mid-day trading on Tuesday . The company traded as low as $1.35 and last traded at $1.37. 431,223 shares were traded during trading, a decline of 2% from the average session volume of 440,877 shares. The stock had previously closed at $1.38.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on OGI. Wall Street Zen raised shares of Organigram Global from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. ATB Cormark Capital Markets lowered shares of Organigram Global from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, February 11th. Canaccord Genuity Group began coverage on shares of Organigram Global in a report on Tuesday, January 27th. They set a “buy” rating for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Organigram Global in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Organigram Global Stock Performance

The firm’s 50-day moving average price is $1.41 and its two-hundred day moving average price is $1.61. The stock has a market cap of $186.79 million, a price-to-earnings ratio of 9.79 and a beta of 1.45.

Organigram Global (NASDAQ:OGI) last announced its quarterly earnings results on Tuesday, February 10th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The firm had revenue of $46.27 million for the quarter, compared to analyst estimates of $73.38 million. Organigram Global had a net margin of 6.03% and a negative return on equity of 15.41%. As a group, sell-side analysts expect that Organigram Global Inc. will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Walleye Capital LLC acquired a new position in Organigram Global in the fourth quarter valued at about $25,000. AXQ Capital LP acquired a new position in Organigram Global in the fourth quarter valued at about $27,000. StoneX Group Inc. acquired a new position in Organigram Global in the fourth quarter valued at about $30,000. PFS Partners LLC lifted its position in Organigram Global by 31.6% in the third quarter. PFS Partners LLC now owns 25,000 shares of the company’s stock valued at $51,000 after buying an additional 6,000 shares during the last quarter. Finally, HRT Financial LP acquired a new position in Organigram Global in the fourth quarter valued at about $52,000. Institutional investors and hedge funds own 34.63% of the company’s stock.

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.