Vontobel Holding Ltd. Sells 118,549 Shares of Organigram Holdings Inc. (NASDAQ:OGI)

Vontobel Holding Ltd. decreased its position in shares of Organigram Holdings Inc. (NASDAQ:OGI) by 68.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,275 shares of the company’s stock after selling 118,549 shares during the quarter. Vontobel Holding Ltd. owned about 0.06% of Organigram worth $70,000 as of its most recent SEC filing.

Separately, Mirae Asset Global Investments Co. Ltd. raised its holdings in Organigram by 4.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,163,033 shares of the company’s stock worth $1,517,000 after purchasing an additional 46,071 shares during the last quarter. Institutional investors and hedge funds own 34.63% of the company’s stock.

Analysts Set New Price Targets

Separately, Alliance Global Partners upgraded shares of Organigram from a “neutral” rating to a “buy” rating in a report on Monday, April 15th.

Organigram Stock Down 1.0 %

Shares of OGI stock opened at $1.93 on Thursday. The company has a market cap of $199.18 million, a price-to-earnings ratio of -2.41 and a beta of 1.09. Organigram Holdings Inc. has a 52 week low of $0.97 and a 52 week high of $2.91. The firm has a 50 day moving average of $2.09 and a 200-day moving average of $1.64.

Organigram (NASDAQ:OGI) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.04). The company had revenue of $26.78 million for the quarter, compared to analyst estimates of $28.61 million. Organigram had a negative return on equity of 30.94% and a negative net margin of 173.48%. Analysts anticipate that Organigram Holdings Inc. will post -0.26 earnings per share for the current year.

Organigram Profile

Organigram Holdings Inc, through its subsidiaries, engages in the production and sale of cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including whole flower, milled flower, pre-rolls, infused pre-rolls, vapes, gummies, and concentrates for medical retailers; adult use recreational cannabis under the SHRED, Holy Mountain, Big Bag O' Buds, Monjour, Trailblazer, SHRED'ems, Edison Cannabis Co, Edison JOLTS, Tremblant, and Laurentian brands.