OrganiGram Holdings Inc. (NASDAQ:OGI) Receives Average Rating of “Hold” from Analysts

Shares of OrganiGram Holdings Inc. (NASDAQ:OGI) have been given an average rating of “Hold” by the nine ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $4.21.

Several research firms have recently issued reports on OGI. CIBC cut their price target on OrganiGram from C$4.00 to C$3.50 and set a “neutral” rating for the company in a research note on Thursday, September 23rd. Atb Cap Markets reaffirmed a “sector perform” rating on shares of OrganiGram in a research note on Friday, July 23rd. Zacks Investment Research downgraded OrganiGram from a “hold” rating to a “sell” rating in a research note on Friday, September 3rd. Finally, Stifel Nicolaus cut their price target on OrganiGram from C$4.00 to C$3.75 and set a “hold” rating for the company in a research note on Thursday, July 15th.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Morgan Stanley grew its holdings in shares of OrganiGram by 59.0% during the 2nd quarter. Morgan Stanley now owns 841,936 shares of the company’s stock worth $2,407,000 after purchasing an additional 312,437 shares during the period. Advisor Resource Council purchased a new stake in shares of OrganiGram during the 2nd quarter worth about $34,000. Invesco Ltd. purchased a new stake in shares of OrganiGram during the 2nd quarter worth about $51,000. UBS Asset Management Americas Inc. grew its holdings in shares of OrganiGram by 9.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 171,000 shares of the company’s stock worth $490,000 after purchasing an additional 14,500 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of OrganiGram during the 2nd quarter worth about $62,000. Institutional investors own 13.76% of the company’s stock.

OrganiGram stock traded up $0.05 during midday trading on Friday, reaching $2.30. The company’s stock had a trading volume of 276,987 shares, compared to its average volume of 12,572,921. OrganiGram has a fifty-two week low of $1.07 and a fifty-two week high of $6.45. The stock’s 50 day simple moving average is $2.48 and its 200 day simple moving average is $2.70. The firm has a market capitalization of $689.57 million, a PE ratio of -4.57 and a beta of 0.10.

OrganiGram (NASDAQ:OGI) last released its earnings results on Monday, July 12th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. OrganiGram had a negative return on equity of 19.91% and a negative net margin of 190.24%. The company had revenue of $16.55 million during the quarter, compared to the consensus estimate of $13.95 million. As a group, equities analysts predict that OrganiGram will post -0.28 EPS for the current year.

OrganiGram Company Profile

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Analyst Recommendations for OrganiGram (NASDAQ:OGI)

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