Wall Street analysts expect OrganiGram Holdings Inc. (NASDAQ:OGI – Get Rating) to post $26.57 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for OrganiGram’s earnings, with the lowest sales estimate coming in at $25.44 million and the highest estimate coming in at $27.51 million. OrganiGram reported sales of $16.55 million in the same quarter last year, which would indicate a positive year over year growth rate of 60.5%. The firm is expected to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that OrganiGram will report full year sales of $102.99 million for the current year, with estimates ranging from $94.81 million to $107.26 million. For the next fiscal year, analysts forecast that the firm will post sales of $143.62 million, with estimates ranging from $124.84 million to $157.94 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for OrganiGram.
OrganiGram (NASDAQ:OGI – Get Rating) last issued its earnings results on Tuesday, April 12th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate 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.
Hedge funds have recently made changes to their positions in the business. PCG Wealth Advisors LLC bought a new position in shares of OrganiGram during the 4th quarter worth approximately $25,000. Two Sigma Securities LLC bought a new position in shares of OrganiGram during the 3rd quarter worth approximately $35,000. Invesco Ltd. bought a new position in shares of OrganiGram during the 2nd quarter worth approximately $51,000. Gotham Asset Management LLC bought a new position in shares of OrganiGram during the 4th quarter worth approximately $33,000. Finally, Bridgewater Associates LP bought a new position in shares of OrganiGram during the 4th quarter worth approximately $36,000. Institutional investors own 11.78% of the company’s stock.
Shares of OGI stock opened at $1.41 on Friday. OrganiGram has a fifty-two week low of $1.27 and a fifty-two week high of $3.52. The stock’s 50-day moving average is $1.53 and its two-hundred day moving average is $1.77. The firm has a market cap of $442.30 million, a P/E ratio of -15.67 and a beta of 0.26.
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.
- Get a free copy of the StockNews.com research report on OrganiGram (OGI)
- Why is Chevron Stock Falling After Strong Earnings?
- MarketBeat: Week in Review 4/25 – 4/29
- Apple’s Numbers Complete Trifecta
- Rogers Communication Stock Should Be Launching Higher
- Iridium Communications Stock is Ready to Return to Orbit
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for OrganiGram Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OrganiGram and related companies with MarketBeat.com's FREE daily email newsletter.