Organigram Global (NASDAQ:OGI) Lowered to “Moderate Buy” Rating by Atb Cormark Cm

Atb Cormark Cm downgraded shares of Organigram Global (NASDAQ:OGI) from a strong-buy rating to a moderate buy rating in a research note released on Wednesday morning,Zacks.com reports.

OGI has been the topic of a number of other reports. Wall Street Zen lowered shares of Organigram Global from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Organigram Global in a research report on Monday, December 29th. Finally, Canaccord Genuity Group initiated coverage on shares of Organigram Global in a research note on Tuesday, January 27th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold”.

Organigram Global Price Performance

Shares of NASDAQ:OGI traded down $0.01 during mid-day trading on Wednesday, reaching $1.31. 335,960 shares of the company were exchanged, compared to its average volume of 870,196. The firm has a market cap of $176.35 million, a price-to-earnings ratio of 9.32 and a beta of 1.60. Organigram Global has a 1 year low of $0.85 and a 1 year high of $2.24. The firm’s 50-day simple moving average is $1.68 and its 200 day simple moving average is $1.66.

Organigram Global (NASDAQ:OGI) last announced its earnings results on Tuesday, February 10th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Organigram Global had a net margin of 6.03% and a negative return on equity of 15.38%. The firm had revenue of $46.27 million for the quarter, compared to analysts’ expectations of $73.38 million. On average, research analysts forecast that Organigram Global will post -0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Organigram Global

Several hedge funds have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. boosted its stake in shares of Organigram Global by 140.5% during the 2nd quarter. Vontobel Holding Ltd. now owns 69,753 shares of the company’s stock worth $94,000 after purchasing an additional 40,753 shares during 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 worth $50,000 after acquiring an additional 19,627 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Organigram Global by 82.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 466,585 shares of the company’s stock worth $784,000 after acquiring an additional 210,391 shares during the last quarter. Bank of America Corp DE grew its stake in Organigram Global by 1,678.1% in the 3rd quarter. Bank of America Corp DE now owns 37,357 shares of the company’s stock worth $76,000 after acquiring an additional 35,256 shares during the period. Finally, Two Sigma Investments LP acquired a new position in Organigram Global in the 3rd quarter valued at $907,000. 34.63% of the stock is currently owned by hedge funds and other 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.