Jefferies Financial Group Comments on OrganiGram Holdings Inc.’s FY2022 Earnings (NASDAQ:OGI)

OrganiGram Holdings Inc. (NASDAQ:OGIGet Rating) – Jefferies Financial Group boosted their FY2022 earnings estimates for shares of OrganiGram in a report issued on Wednesday, April 13th. Jefferies Financial Group analyst O. Bennett now expects that the company will post earnings per share of ($0.07) for the year, up from their previous estimate of ($0.10). Jefferies Financial Group also issued estimates for OrganiGram’s FY2023 earnings at ($0.03) EPS.

OrganiGram (NASDAQ:OGIGet Rating) last announced its earnings results on Tuesday, April 12th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. OrganiGram had a negative return on equity of 12.28% and a negative net margin of 32.87%. During the same period last year, the company posted ($0.09) EPS.

A number of other equities analysts have also weighed in on the company. Canaccord Genuity Group upgraded OrganiGram from a “hold” rating to a “buy” rating and upped their target price for the stock from C$3.00 to C$3.25 in a research note on Wednesday, January 12th. Canaccord Genuity Group upgraded OrganiGram from a “hold” rating to a “speculative buy” rating and upped their price objective for the stock from $3.00 to $3.25 in a report on Wednesday, January 12th. Cantor Fitzgerald cut their price objective on OrganiGram from $5.70 to $5.30 and set an “overweight” rating for the company in a report on Wednesday, January 12th. Atb Cap Markets upgraded OrganiGram from a “sector perform” rating to an “outperform” rating in a report on Tuesday. Finally, Zacks Investment Research upgraded OrganiGram from a “sell” rating to a “hold” rating in a report on Wednesday, March 30th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, OrganiGram currently has an average rating of “Hold” and an average target price of $3.36.

Shares of NASDAQ OGI opened at $1.74 on Friday. The stock’s 50-day simple moving average is $1.55 and its two-hundred day simple moving average is $1.83. OrganiGram has a twelve month low of $1.27 and a twelve month high of $3.52.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OGI. PCG Wealth Advisors LLC purchased a new stake in OrganiGram in the 4th quarter worth approximately $25,000. Gotham Asset Management LLC purchased a new stake in OrganiGram in the 4th quarter worth approximately $33,000. Two Sigma Securities LLC bought a new position in shares of OrganiGram in the 3rd quarter worth approximately $35,000. Bridgewater Associates LP bought a new position in shares of OrganiGram in the 4th quarter worth approximately $36,000. Finally, Pinnacle Private Wealth LLC bought a new position in shares of OrganiGram in the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 11.78% of the company’s stock.

OrganiGram Company Profile (Get Rating)

Organigram Holdings Inc, through its subsidiaries, produces and sells cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including cannabis flowers, cannabis oils, and vaporizers for civilian patients and veterans; adult use recreational cannabis under the Edison Cannabis Co, Trail Blazer, SHRED, SHRED'ems, Big Bag O' Buds, and Monjour brands; and cannabis edibles products and concentrates.

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Earnings History and Estimates for OrganiGram (NASDAQ:OGI)

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