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

Organigram Global Inc. (NASDAQ:OGI) was down 0.7% during trading on Tuesday . The company traded as low as $1.35 and last traded at $1.37. Approximately 431,223 shares changed hands during mid-day trading, a decline of 2% from the average daily volume of 440,877 shares. The stock had previously closed at $1.38.

Analysts Set New Price Targets

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

Organigram Global Stock Down 0.7%

The firm has a market cap of $186.79 million, a price-to-earnings ratio of 9.79 and a beta of 1.45. The company’s 50-day moving average price is $1.41 and its 200-day moving average price is $1.61.

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

Institutional Trading of Organigram Global

Hedge funds have recently made changes to their positions in the business. Walleye Capital LLC acquired a new stake in shares of Organigram Global during the fourth quarter worth about $25,000. AXQ Capital LP acquired a new stake in shares of Organigram Global during the fourth quarter worth about $27,000. StoneX Group Inc. acquired a new stake in shares of Organigram Global during the fourth quarter worth about $30,000. PFS Partners LLC lifted its position in shares of Organigram Global by 31.6% during the third quarter. PFS Partners LLC now owns 25,000 shares of the company’s stock worth $51,000 after purchasing an additional 6,000 shares in the last quarter. Finally, HRT Financial LP acquired a new stake in shares of Organigram Global during the fourth quarter worth 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.