Wall Street Zen Upgrades Organigram Global (NASDAQ:OGI) to Hold

Organigram Global (NASDAQ:OGI) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Organigram Global in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Organigram Global Stock Up 17.1%

Shares of Organigram Global stock opened at $1.92 on Friday. The company has a market cap of $259.21 million, a P/E ratio of 38.41 and a beta of 1.50. The firm’s 50 day moving average price is $1.68 and its 200-day moving average price is $1.58. Organigram Global has a 52-week low of $0.85 and a 52-week high of $2.08.

Hedge Funds Weigh In On Organigram Global

Several hedge funds have recently made changes to their positions in OGI. Tidal Investments LLC lifted its position in Organigram Global by 4.9% during the 2nd quarter. Tidal Investments LLC now owns 2,646,879 shares of the company’s stock worth $3,573,000 after acquiring an additional 124,356 shares during the period. AdvisorShares Investments LLC raised its stake in shares of Organigram Global by 31.2% in the third quarter. AdvisorShares Investments LLC now owns 1,052,394 shares of the company’s stock worth $2,136,000 after purchasing an additional 250,000 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of Organigram Global during the third quarter worth about $907,000. Baader Bank Aktiengesellschaft boosted its position in Organigram Global by 5.3% in the third quarter. Baader Bank Aktiengesellschaft now owns 263,915 shares of the company’s stock valued at $519,000 after buying an additional 13,271 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its position in Organigram Global by 140.5% in the second quarter. Vontobel Holding Ltd. now owns 69,753 shares of the company’s stock valued at $94,000 after buying an additional 40,753 shares during the last quarter. 34.63% of the stock is owned by institutional investors and hedge funds.

About Organigram Global

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.