OrganiGram Holdings Inc. (NASDAQ:OGI) has earned an average rating of “Hold” from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $4.21.
A number of equities research analysts have recently issued reports on OGI shares. Stifel Nicolaus dropped their target price on shares of OrganiGram from C$4.00 to C$3.75 and set a “hold” rating for the company in a report on Thursday, July 15th. Zacks Investment Research lowered shares of OrganiGram from a “hold” rating to a “sell” rating in a report on Friday, September 3rd. CIBC dropped their price objective on shares of OrganiGram from C$4.00 to C$3.50 and set a “neutral” rating for the company in a report on Thursday, September 23rd. Finally, Atb Cap Markets reissued a “sector perform” rating on shares of OrganiGram in a report on Friday, July 23rd.
NASDAQ:OGI traded up $0.05 during trading hours on Friday, reaching $2.30. 276,987 shares of the company were exchanged, compared to its average volume of 12,572,921. The stock’s 50-day moving average is $2.48 and its 200-day moving average is $2.70. The firm has a market cap of $689.57 million, a PE ratio of -4.57 and a beta of 0.10. OrganiGram has a twelve month low of $1.07 and a twelve month high of $6.45.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Morgan Stanley grew its position in shares of OrganiGram by 59.0% during the second quarter. Morgan Stanley now owns 841,936 shares of the company’s stock worth $2,407,000 after acquiring an additional 312,437 shares during the last quarter. Advisor Resource Council purchased a new position in shares of OrganiGram during the second quarter worth approximately $34,000. Invesco Ltd. purchased a new position in shares of OrganiGram during the second quarter worth approximately $51,000. UBS Asset Management Americas Inc. grew its position in shares of OrganiGram by 9.3% during the second quarter. UBS Asset Management Americas Inc. now owns 171,000 shares of the company’s stock worth $490,000 after acquiring an additional 14,500 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of OrganiGram during the second quarter worth approximately $62,000. Institutional investors and hedge funds own 13.76% of the company’s stock.
OrganiGram Company Profile
Further Reading: Cost of Goods Sold (COGS)
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