Atb Cormark Cm Downgrades Organigram Global (NASDAQ:OGI) to Moderate Buy

Organigram Global (NASDAQ:OGI) was downgraded by stock analysts at Atb Cormark Cm from a “strong-buy” rating to a “moderate buy” rating in a research report issued on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Organigram Global in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Organigram Global from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Finally, Canaccord Genuity Group began coverage on shares of Organigram Global in a research note on Tuesday, January 27th. They issued a “buy” rating for the company. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Organigram Global Price Performance

Shares of NASDAQ OGI opened at $1.28 on Wednesday. The business has a 50-day moving average of $1.67 and a 200-day moving average of $1.66. The stock has a market capitalization of $172.97 million, a price-to-earnings ratio of 9.14 and a beta of 1.60. Organigram Global has a fifty-two week low of $0.85 and a fifty-two week high of $2.24.

Organigram Global (NASDAQ:OGI) last released its earnings results on Tuesday, February 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Organigram Global had a negative return on equity of 15.41% and a net margin of 6.03%.The company had revenue of $46.27 million for the quarter, compared to the consensus estimate of $73.38 million. On average, sell-side analysts expect that Organigram Global will post -0.19 EPS for the current year.

Hedge Funds Weigh In On Organigram Global

Several institutional investors and hedge funds have recently modified their holdings of OGI. Vontobel Holding Ltd. raised its position in shares of 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 purchasing an additional 40,753 shares during the period. Cidel Asset Management Inc. raised its holdings in Organigram Global by 112.3% in the 2nd quarter. Cidel Asset Management Inc. now owns 37,103 shares of the company’s stock valued at $50,000 after acquiring an additional 19,627 shares during the period. Tidal Investments LLC lifted its position in Organigram Global by 4.9% during the second 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 last quarter. PFS Partners LLC boosted its holdings in shares of Organigram Global by 31.6% during the third quarter. PFS Partners LLC now owns 25,000 shares of the company’s stock worth $51,000 after acquiring an additional 6,000 shares during the period. Finally, AdvisorShares Investments LLC boosted its holdings in shares of Organigram Global by 31.2% during the third quarter. AdvisorShares Investments LLC now owns 1,052,394 shares of the company’s stock worth $2,136,000 after acquiring an additional 250,000 shares during the period. 34.63% of the stock is currently owned by institutional investors and hedge funds.

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.