Organigram Global (NASDAQ:OGI) Upgraded at Wall Street Zen

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

A number of other equities analysts have also recently commented on OGI. ATB Cormark Capital Markets cut shares of Organigram Global from a “strong-buy” rating to a “moderate buy” rating in a research note on Wednesday, February 11th. Canaccord Genuity Group assumed coverage on Organigram Global in a research report on Tuesday, January 27th. They issued a “buy” rating for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Organigram Global in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Organigram Global currently has a consensus rating of “Hold”.

Organigram Global Price Performance

NASDAQ OGI opened at $1.29 on Friday. Organigram Global has a 1-year low of $0.85 and a 1-year high of $2.24. The business has a 50 day simple moving average of $1.66 and a two-hundred day simple moving average of $1.66. The stock has a market capitalization of $174.32 million, a PE ratio of 9.21 and a beta of 1.60.

Organigram Global (NASDAQ:OGI) last issued its quarterly earnings data 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). Organigram Global had a negative return on equity of 15.41% and a net margin of 6.03%.The firm had revenue of $46.27 million for the quarter, compared to analysts’ expectations of $73.38 million. On average, analysts anticipate that Organigram Global will post -0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Organigram Global

A number of institutional investors and hedge funds have recently modified their holdings of OGI. Tidal Investments LLC grew its position in Organigram Global by 4.9% in the 2nd quarter. Tidal Investments LLC now owns 2,646,879 shares of the company’s stock valued at $3,573,000 after acquiring an additional 124,356 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Organigram Global by 43.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,405,348 shares of the company’s stock worth $2,361,000 after purchasing an additional 423,900 shares during the last quarter. AdvisorShares Investments LLC increased its stake in Organigram Global by 31.2% in the 3rd quarter. AdvisorShares Investments LLC now owns 1,052,394 shares of the company’s stock worth $2,136,000 after buying an additional 250,000 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Organigram Global by 82.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 466,585 shares of the company’s stock valued at $784,000 after buying an additional 210,391 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in Organigram Global during the 3rd quarter valued at about $907,000. 34.63% of the stock is owned by institutional investors.

Organigram Global Company Profile

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.