Organigram Global (NASDAQ:OGI) Upgraded at Wall Street Zen

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

A number of other research firms have also recently weighed in on OGI. ATB Cormark Capital Markets cut Organigram Global from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Organigram Global in a report on Monday, December 29th. Finally, Canaccord Genuity Group started coverage on shares of Organigram Global in a report on Tuesday, January 27th. They set a “buy” rating on the stock. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Organigram Global presently has an average rating of “Hold”.

Organigram Global Stock Up 0.8%

OGI opened at $1.29 on Friday. The stock has a market capitalization of $174.32 million, a price-to-earnings ratio of 9.21 and a beta of 1.60. The firm has a 50 day moving average price of $1.66 and a 200-day moving average price of $1.66. Organigram Global has a twelve month low of $0.85 and a twelve month high of $2.24.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OGI. Cidel Asset Management Inc. lifted its holdings in shares of Organigram Global by 112.3% in the 2nd quarter. Cidel Asset Management Inc. now owns 37,103 shares of the company’s stock worth $50,000 after acquiring an additional 19,627 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Organigram Global by 43.2% during the 4th quarter. Renaissance Technologies LLC now owns 1,405,348 shares of the company’s stock valued at $2,361,000 after purchasing an additional 423,900 shares during the last quarter. Tidal Investments LLC raised its position in Organigram Global by 4.9% in the 2nd quarter. Tidal Investments LLC now owns 2,646,879 shares of the company’s stock worth $3,573,000 after purchasing an additional 124,356 shares during the period. PFS Partners LLC raised its position in Organigram Global by 31.6% in the 3rd quarter. PFS Partners LLC now owns 25,000 shares of the company’s stock worth $51,000 after purchasing an additional 6,000 shares during the period. Finally, AdvisorShares Investments LLC lifted its stake in 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. Institutional investors 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.