Organigram Global (NASDAQ:OGI) Stock Price Down 0.9% – What’s Next?

Shares of Organigram Global Inc. (NASDAQ:OGI) fell 0.9% during trading on Tuesday . The stock traded as low as $0.9510 and last traded at $0.9510. 288,267 shares changed hands during trading, a decline of 49% from the average daily volume of 568,710 shares. The stock had previously closed at $0.96.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on OGI shares. Wall Street Zen lowered shares of Organigram Global from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Organigram Global in a research note on Tuesday, June 9th. 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.com, Organigram Global presently has an average rating of “Hold”.

Organigram Global Trading Down 0.9%

The business has a 50-day moving average of $1.21 and a 200 day moving average of $1.42. The firm has a market capitalization of $133.87 million, a P/E ratio of -7.32 and a beta of 1.43.

Organigram Global (NASDAQ:OGI) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). Organigram Global had a negative return on equity of 13.41% and a negative net margin of 9.22%.The business had revenue of $42.99 million for the quarter, compared to analyst estimates of $50.56 million. As a group, research analysts forecast that Organigram Global Inc. will post 0.09 EPS for the current year.

Hedge Funds Weigh In On Organigram Global

A number of large investors have recently modified their holdings of the company. Walleye Capital LLC acquired a new stake in Organigram Global in the 4th quarter valued at $25,000. AXQ Capital LP acquired a new position in Organigram Global during the fourth quarter worth $27,000. StoneX Group Inc. acquired a new position in Organigram Global during the fourth quarter worth $30,000. HRT Financial LP bought a new position in shares of Organigram Global in the fourth quarter valued at $52,000. Finally, Bank of America Corp DE lifted its stake in shares of Organigram Global by 1,678.1% in the third 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 in the last quarter. 34.63% of the stock is currently owned by institutional investors.

About Organigram Global

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.