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

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.

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

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)

Analyst Recommendations for OrganiGram (NASDAQ:OGI)

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