Organigram Global (NASDAQ:OGI) Downgraded to Sell Rating by Wall Street Zen

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

Other analysts have also recently issued research reports about the company. ATB Cormark Capital Markets cut Organigram Global from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, February 11th. Canaccord Genuity Group initiated coverage on Organigram Global in a research report on Tuesday, January 27th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold”.

Organigram Global Stock Down 1.4%

OGI opened at $1.36 on Friday. The firm has a market cap of $191.45 million, a PE ratio of 9.71 and a beta of 1.50. The business has a fifty day simple moving average of $1.41 and a 200-day simple moving average of $1.55. Organigram Global has a fifty-two week low of $1.11 and a fifty-two week high of $2.24.

Organigram Global (NASDAQ:OGI) last released its quarterly earnings data 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 company had revenue of $46.27 million for the quarter, compared to the consensus estimate of $73.38 million. Organigram Global had a negative return on equity of 15.41% and a net margin of 6.03%. On average, equities research analysts anticipate that Organigram Global will post 0.1 EPS for the current fiscal year.

Institutional Trading of Organigram Global

Hedge funds and other institutional investors have recently modified their holdings of the business. Walleye Capital LLC acquired a new stake in shares of Organigram Global in the fourth quarter worth $25,000. AXQ Capital LP acquired a new stake in shares of Organigram Global in the fourth quarter worth $27,000. StoneX Group Inc. acquired a new stake in shares of Organigram Global in the fourth quarter worth $30,000. HRT Financial LP acquired a new stake in Organigram Global during the fourth quarter valued at $52,000. Finally, Bank of America Corp DE boosted its position in Organigram Global by 1,678.1% during the third quarter. Bank of America Corp DE now owns 37,357 shares of the company’s stock valued at $76,000 after purchasing an additional 35,256 shares during the last quarter. 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.