Organigram Global (NASDAQ:OGI) Stock Rating Upgraded by Wall Street Zen

Organigram Global (NASDAQ:OGI) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Organigram Global in a research note on Tuesday, June 9th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold”.

Organigram Global Stock Performance

OGI stock opened at $1.23 on Friday. The stock has a market capitalization of $173.41 million, a PE ratio of 2.67 and a beta of 1.46. Organigram Global has a 12-month low of $0.85 and a 12-month high of $2.24. The company has a current ratio of 2.61, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. The stock’s 50 day simple moving average is $1.00 and its 200 day simple moving average is $1.23.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Formidable Asset Management LLC increased its position in Organigram Global by 8.7% during the 1st quarter. Formidable Asset Management LLC now owns 156,749 shares of the company’s stock valued at $210,000 after purchasing an additional 12,600 shares during the period. Walleye Capital LLC purchased a new position in Organigram Global during the fourth quarter valued at approximately $25,000. AXQ Capital LP purchased a new position in Organigram Global during the fourth quarter valued at approximately $27,000. StoneX Group Inc. bought a new position in Organigram Global in the fourth quarter worth approximately $30,000. Finally, Dimensional Fund Advisors LP raised its stake in Organigram Global by 16.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 193,547 shares of the company’s stock worth $325,000 after buying an additional 26,733 shares in the last quarter. 34.63% of the stock is currently owned by institutional investors.

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.