Organigram Holdings Inc. (NASDAQ:OGI) Sees Large Increase in Short Interest

Organigram Holdings Inc. (NASDAQ:OGI) was the target of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 5,400,000 shares, an increase of 25.6% from the February 13th total of 4,300,000 shares. Approximately 6.5% of the shares of the company are short sold. Based on an average daily trading volume, of 991,800 shares, the short-interest ratio is presently 5.4 days.

Organigram Stock Performance

NASDAQ OGI opened at $1.07 on Wednesday. The company has a fifty day simple moving average of $1.36 and a 200 day simple moving average of $1.56. The company has a market cap of $135.05 million, a P/E ratio of -2.82 and a beta of 1.01. Organigram has a 1 year low of $0.96 and a 1 year high of $2.91.

Organigram (NASDAQ:OGI) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.05) earnings per share 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%. Equities research analysts forecast that Organigram will post -0.19 EPS for the current fiscal year.

Institutional Trading of Organigram

Hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank boosted its holdings in Organigram by 803.7% in the 3rd quarter. Toronto Dominion Bank now owns 16,727 shares of the company’s stock valued at $30,000 after purchasing an additional 14,876 shares during the period. Clear Harbor Asset Management LLC boosted its holdings in Organigram by 37.4% in the 4th quarter. Clear Harbor Asset Management LLC now owns 45,000 shares of the company’s stock valued at $72,000 after purchasing an additional 12,250 shares during the period. Tidal Investments LLC boosted its holdings in Organigram by 8.3% in the 3rd quarter. Tidal Investments LLC now owns 1,948,188 shares of the company’s stock valued at $3,526,000 after purchasing an additional 149,171 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in 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 purchasing an additional 30,583 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Organigram by 13.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 359,739 shares of the company’s stock valued at $579,000 after purchasing an additional 43,721 shares during the period. 34.63% of the stock is owned by institutional investors.

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.