Organigram Global (NASDAQ:OGI) Research Coverage Started at Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of Organigram Global (NASDAQ:OGI) in a research report released on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating on the stock.

Several other research analysts have also commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Organigram Global in a report on Monday, December 29th. Wall Street Zen raised shares of Organigram Global from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Organigram Global Price Performance

Shares of Organigram Global stock opened at $1.58 on Tuesday. The stock’s 50 day simple moving average is $1.69 and its 200-day simple moving average is $1.66. The stock has a market cap of $213.51 million, a P/E ratio of -14.36 and a beta of 1.52. Organigram Global has a 1-year low of $0.85 and a 1-year high of $2.24.

Organigram Global (NASDAQ:OGI) last posted its quarterly earnings results on Tuesday, December 16th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.19). The company had revenue of $57.53 million during the quarter, compared to analyst estimates of $73.02 million. Organigram Global had a negative net margin of 9.99% and a negative return on equity of 16.91%. As a group, research analysts expect that Organigram Global will post -0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. PFS Partners LLC increased 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 valued at $51,000 after acquiring an additional 6,000 shares during the last quarter. Cidel Asset Management Inc. boosted its position in shares of Organigram Global by 112.3% during the 2nd quarter. Cidel Asset Management Inc. now owns 37,103 shares of the company’s stock worth $50,000 after purchasing an additional 19,627 shares during the period. Bank of America Corp DE increased its holdings in Organigram Global by 1,678.1% in the 3rd 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. Vontobel Holding Ltd. increased its holdings in Organigram Global by 140.5% in the 2nd quarter. Vontobel Holding Ltd. now owns 69,753 shares of the company’s stock valued at $94,000 after purchasing an additional 40,753 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft raised its position in Organigram Global by 5.3% in the third quarter. Baader Bank Aktiengesellschaft now owns 263,915 shares of the company’s stock valued at $519,000 after purchasing an additional 13,271 shares during the period. 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.