Organigram (OGI) to Release Quarterly Earnings on Tuesday

Organigram (TSE:OGI) will release its earnings data before the market opens on Tuesday, May 14th. Analysts expect Organigram to post earnings of C($0.08) per share for the quarter.

Organigram (TSE:OGI) last posted its quarterly earnings results on Tuesday, February 13th. The company reported C($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.13) by C($0.06). The company had revenue of C$36.46 million during the quarter, compared to the consensus estimate of C$38.13 million. Organigram had a negative net margin of 153.80% and a negative return on equity of 54.53%.

Organigram Stock Performance

Shares of TSE OGI opened at C$2.45 on Thursday. The stock’s fifty day simple moving average is C$2.81 and its 200 day simple moving average is C$2.30. The stock has a market capitalization of C$252.35 million, a price-to-earnings ratio of -0.98, a PEG ratio of 0.42 and a beta of 1.10. The company has a quick ratio of 2.62, a current ratio of 6.95 and a debt-to-equity ratio of 1.75. Organigram has a 52-week low of C$1.35 and a 52-week high of C$3.95.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on OGI shares. ATB Capital set a C$5.25 price target on Organigram and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. Alliance Global Partners lifted their target price on shares of Organigram from C$2.00 to C$2.70 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Finally, Jefferies Financial Group decreased their price objective on shares of Organigram from C$4.95 to C$4.40 and set a “buy” rating for the company in a research note on Tuesday, February 27th.

Insider Activity

In other Organigram news, Director Donald Geoffrey Machum sold 23,000 shares of Organigram stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of C$2.74, for a total transaction of C$62,964.80. 27.32% of the stock is owned by corporate insiders.

Organigram Company Profile

Organigram Holdings Inc, through its subsidiaries, engages in the production and sale of cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including whole flower, milled flower, pre-rolls, infused pre-rolls, vapes, gummies, and concentrates for medical retailers; adult use recreational cannabis under the SHRED, Holy Mountain, Big Bag O' Buds, Monjour, Trailblazer, SHRED'ems, Edison Cannabis Co, Edison JOLTS, Tremblant, and Laurentian brands.