OrganiGram Holdings Inc. (NASDAQ:OGI) Expected to Announce Quarterly Sales of $26.57 Million

Analysts forecast that OrganiGram Holdings Inc. (NASDAQ:OGIGet Rating) will post $26.57 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for OrganiGram’s earnings, with the highest sales estimate coming in at $27.51 million and the lowest estimate coming in at $25.44 million. OrganiGram posted sales of $16.55 million during the same quarter last year, which suggests a positive year-over-year growth rate of 60.5%. The company is scheduled to announce 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 financial year, with estimates ranging from $94.81 million to $107.26 million. For the next year, analysts expect 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 averages are a mean average based on a survey of sell-side research analysts that follow OrganiGram.

OrganiGram (NASDAQ:OGIGet Rating) last released its earnings results on Tuesday, April 12th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). OrganiGram had a negative return on equity of 12.28% and a negative net margin of 32.87%. The business had revenue of $25.04 million during the quarter, compared to analysts’ expectations of $24.28 million. During the same quarter last year, the firm posted ($0.09) earnings per share.

Several equities research analysts recently commented on OGI shares. Atb Cap Markets raised OrganiGram from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, April 12th. Zacks Investment Research raised OrganiGram from a “sell” rating to a “hold” rating in a research note on Wednesday, March 30th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, OrganiGram currently has a consensus rating of “Hold” and a consensus price target of $3.36.

NASDAQ OGI opened at $1.21 on Friday. The business has a 50 day simple moving average of $1.49 and a 200 day simple moving average of $1.66. OrganiGram has a one year low of $1.10 and a one year high of $3.52. The stock has a market capitalization of $379.56 million, a P/E ratio of -13.44 and a beta of 0.36.

Large investors have recently made changes to their positions in the stock. Bank of Montreal Can lifted its holdings in OrganiGram by 288.0% during the fourth quarter. Bank of Montreal Can now owns 2,982,335 shares of the company’s stock worth $5,427,000 after acquiring an additional 2,213,695 shares during the period. Merlin Capital LLC bought a new stake in OrganiGram during the fourth quarter worth $3,706,000. D. E. Shaw & Co. Inc. lifted its holdings in OrganiGram by 17.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,305,642 shares of the company’s stock worth $2,293,000 after acquiring an additional 192,942 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in OrganiGram by 148.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,287,700 shares of the company’s stock worth $2,262,000 after acquiring an additional 769,600 shares during the period. Finally, Millennium Management LLC lifted its holdings in OrganiGram by 533.3% during the fourth quarter. Millennium Management LLC now owns 1,263,033 shares of the company’s stock worth $2,218,000 after acquiring an additional 1,063,604 shares during the period. 11.78% of the stock is currently owned by institutional investors.

About OrganiGram (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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