Organigram Global (NASDAQ:OGI) Now Covered by Analysts at Canaccord Genuity Group

Canaccord Genuity Group assumed coverage on shares of Organigram Global (NASDAQ:OGI) in a research report report published on Tuesday morning, MarketBeat reports. The firm issued a buy rating on the stock.

OGI has been the subject of a number of other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Organigram Global in a research note on Monday, December 29th. Wall Street Zen raised shares of Organigram Global from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Organigram Global Price Performance

Organigram Global stock opened at $1.65 on Tuesday. The stock’s 50-day moving average is $1.69 and its 200-day moving average is $1.66. Organigram Global has a 12 month low of $0.85 and a 12 month high of $2.24. The company has a market cap of $222.96 million, a price-to-earnings ratio of -15.00 and a beta of 1.52.

Organigram Global (NASDAQ:OGI) last announced its quarterly earnings results on Tuesday, December 16th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.19). The business had revenue of $57.53 million for the quarter, compared to analysts’ expectations of $73.02 million. Organigram Global had a negative return on equity of 16.91% and a negative net margin of 9.99%. Research analysts anticipate that Organigram Global will post -0.19 EPS for the current year.

Hedge Funds Weigh In On Organigram Global

Several hedge funds have recently made changes to their positions in OGI. PFS Partners LLC boosted its stake in shares of Organigram Global by 31.6% during the 3rd quarter. PFS Partners LLC now owns 25,000 shares of the company’s stock worth $51,000 after acquiring an additional 6,000 shares in the last quarter. Cidel Asset Management Inc. boosted its position in Organigram Global by 112.3% during the second quarter. Cidel Asset Management Inc. now owns 37,103 shares of the company’s stock valued at $50,000 after purchasing an additional 19,627 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Organigram Global by 1,678.1% during the 3rd quarter. Bank of America Corp DE now owns 37,357 shares of the company’s stock valued at $76,000 after buying an additional 35,256 shares during the last quarter. Vontobel Holding Ltd. lifted its stake 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 acquiring an additional 40,753 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft lifted its stake in shares of Organigram Global by 5.3% in the 3rd quarter. Baader Bank Aktiengesellschaft now owns 263,915 shares of the company’s stock valued at $519,000 after purchasing an additional 13,271 shares during the last quarter. Institutional investors and hedge funds own 34.63% of the company’s stock.

Organigram Global Company Profile

Organigram Global Inc (NASDAQ: OGI) is a licensed producer of cannabis and hemp products headquartered in Moncton, New Brunswick, Canada. Founded in 2013, the company operates a state-of-the-art cultivation and manufacturing facility spanning more than one million square feet. Organigram holds licenses from Health Canada to produce and sell both medical and adult-use cannabis, and it pursues Good Manufacturing Practice (GMP) certification to support international exports.

The company’s product portfolio encompasses dried flower, pre-rolled joints, cannabis oils, capsules and soft gels, as well as vapourizer cartridges and extracts.