Organigram Global Inc. $OGI Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. increased its stake in Organigram Global Inc. (NASDAQ:OGI) by 140.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,753 shares of the company’s stock after purchasing an additional 40,753 shares during the quarter. Vontobel Holding Ltd. owned about 0.05% of Organigram Global worth $94,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Clear Harbor Asset Management LLC bought a new stake in Organigram Global in the second quarter worth about $54,000. Baader Bank Aktiengesellschaft bought a new stake in Organigram Global in the second quarter worth about $338,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Organigram Global in the first quarter worth about $30,000. 34.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Organigram Global in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Organigram Global from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Organigram Global Stock Performance

Shares of NASDAQ OGI opened at $1.96 on Thursday. The stock has a market cap of $263.31 million, a price-to-earnings ratio of 39.21 and a beta of 1.48. The business has a 50 day simple moving average of $1.72 and a 200 day simple moving average of $1.43. Organigram Global Inc. has a 52 week low of $0.85 and a 52 week high of $2.08.

Organigram Global (NASDAQ:OGI) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The firm had revenue of $50.49 million during the quarter, compared to the consensus estimate of $68.04 million. Organigram Global had a net margin of 2.86% and a negative return on equity of 8.19%. On average, analysts predict that Organigram Global Inc. will post -0.19 EPS for the current year.

Organigram Global Profile

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.