Organigram (NASDAQ:OGI) Trading Down 2.7% – Here’s What Happened

Organigram Holdings Inc. (NASDAQ:OGI) shares fell 2.7% during mid-day trading on Monday . The stock traded as low as $0.87 and last traded at $0.92. 836,493 shares traded hands during trading, an increase of 5% from the average session volume of 799,625 shares. The stock had previously closed at $0.95.

Organigram Trading Down 2.7 %

The company’s 50-day moving average is $1.21 and its 200 day moving average is $1.48. The stock has a market capitalization of $116.74 million, a PE ratio of -2.43 and a beta of 1.10.

Organigram (NASDAQ:OGI) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Organigram had a negative net margin of 31.69% and a negative return on equity of 8.59%. Sell-side analysts forecast that Organigram Holdings Inc. will post -0.19 EPS for the current fiscal year.

Institutional Trading of Organigram

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Securities LLC acquired a new position in shares of Organigram in the fourth quarter valued at about $26,000. Toronto Dominion Bank increased its holdings in Organigram by 803.7% in the 3rd quarter. Toronto Dominion Bank now owns 16,727 shares of the company’s stock worth $30,000 after buying an additional 14,876 shares during the period. Oxford Asset Management LLP purchased a new position in Organigram during the 4th quarter worth approximately $50,000. Clear Harbor Asset Management LLC lifted its stake in Organigram by 37.4% during the 4th quarter. Clear Harbor Asset Management LLC now owns 45,000 shares of the company’s stock valued at $72,000 after acquiring an additional 12,250 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Organigram by 210.7% in the 4th quarter. Cubist Systematic Strategies LLC now owns 45,095 shares of the company’s stock valued at $73,000 after acquiring an additional 30,583 shares during the last quarter. Institutional investors and hedge funds own 34.63% of the company’s stock.

Organigram Company 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.