Organigram (NASDAQ:OGI) Rating Increased to Buy at Alliance Global Partners

Alliance Global Partners upgraded shares of Organigram (NASDAQ:OGI) from a neutral rating to a buy rating in a research report report published on Monday, MarketBeat.com reports.

Organigram Stock Down 3.1 %

Shares of NASDAQ OGI opened at $1.88 on Monday. The firm’s 50-day moving average price is $2.11 and its two-hundred day moving average price is $1.62. Organigram has a 52-week low of $0.97 and a 52-week high of $2.91. The stock has a market capitalization of $194.02 million, a P/E ratio of -2.35 and a beta of 1.09.

Organigram (NASDAQ:OGI) last issued its earnings results on Tuesday, February 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). Organigram had a negative return on equity of 30.94% and a negative net margin of 173.48%. The business had revenue of $26.78 million during the quarter, compared to the consensus estimate of $28.61 million. As a group, equities research analysts expect that Organigram will post -0.26 earnings per share for the current year.

Institutional Investors Weigh In On Organigram

Hedge funds have recently made changes to their positions in the business. Canton Hathaway LLC bought a new stake in shares of Organigram during the fourth quarter valued at approximately $49,000. JPMorgan Chase & Co. acquired a new position in shares of Organigram during the fourth quarter valued at approximately $142,000. Royal Bank of Canada increased its stake in shares of Organigram by 27.4% during the second quarter. Royal Bank of Canada now owns 231,485 shares of the company’s stock valued at $90,000 after acquiring an additional 49,755 shares during the period. Cibc World Market Inc. acquired a new position in shares of Organigram during the first quarter valued at approximately $82,000. Finally, Two Sigma Securities LLC increased its stake in shares of Organigram by 330.8% during the second quarter. Two Sigma Securities LLC now owns 172,942 shares of the company’s stock valued at $67,000 after acquiring an additional 132,799 shares during the period. Institutional investors own 34.63% of the company’s stock.

About Organigram

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.