Organigram (NASDAQ:OGI) Trading Down 1.3% – Here’s What Happened

Organigram Holdings Inc. (NASDAQ:OGIGet Free Report)’s stock price fell 1.3% on Friday . The company traded as low as $1.53 and last traded at $1.55. 250,374 shares changed hands during trading, a decline of 53% from the average session volume of 534,901 shares. The stock had previously closed at $1.57.

Organigram Stock Performance

The stock has a market cap of $195.54 million, a P/E ratio of -4.08 and a beta of 1.00. The firm’s fifty day simple moving average is $1.55 and its 200-day simple moving average is $1.68.

Organigram (NASDAQ:OGIGet Free Report) last released its earnings results on Wednesday, December 18th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Organigram had a negative net margin of 28.58% and a negative return on equity of 11.68%. Analysts predict that Organigram Holdings Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Organigram

Institutional investors and hedge funds have recently made changes to their positions in the business. Clear Harbor Asset Management LLC increased its holdings in Organigram by 37.4% in the fourth quarter. Clear Harbor Asset Management LLC now owns 45,000 shares of the company’s stock worth $72,000 after purchasing an additional 12,250 shares in the last quarter. Toronto Dominion Bank grew its position in shares of Organigram by 803.7% during the 3rd quarter. Toronto Dominion Bank now owns 16,727 shares of the company’s stock worth $30,000 after buying an additional 14,876 shares during the period. Tidal Investments LLC increased its stake in shares of 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 acquiring an additional 149,171 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Organigram by 40.8% during the 2nd quarter. Renaissance Technologies LLC now owns 816,948 shares of the company’s stock valued at $1,258,000 after acquiring an additional 236,700 shares during the period. Institutional investors own 34.63% of the company’s stock.

Organigram Company Profile

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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.

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