Organigram Global (NASDAQ:OGI) Raised to Hold at Wall Street Zen

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

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Organigram Global in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Organigram Global Stock Performance

OGI stock opened at $1.92 on Friday. The stock’s 50 day moving average price is $1.68 and its 200 day moving average price is $1.58. The firm has a market cap of $259.22 million, a P/E ratio of 38.41 and a beta of 1.50. Organigram Global has a 1 year low of $0.85 and a 1 year high of $2.08.

Institutional Trading of Organigram Global

A number of hedge funds have recently added to or reduced their stakes in the business. Cidel Asset Management Inc. grew 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 buying an additional 19,627 shares during the period. PFS Partners LLC boosted its position in shares of Organigram Global by 31.6% in 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 last quarter. Clear Harbor Asset Management LLC purchased a new stake in Organigram Global in the second quarter valued at approximately $54,000. Bank of America Corp DE increased its position in Organigram Global by 1,678.1% during the third quarter. Bank of America Corp DE now owns 37,357 shares of the company’s stock worth $76,000 after purchasing an additional 35,256 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its stake in Organigram Global by 140.5% during the second 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 period. 34.63% of the stock is owned by institutional investors and hedge funds.

About Organigram Global

Organigram Holdings Inc, through its subsidiaries, engages in the production and sale of cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including whole flower, milled flower, pre-rolls, infused pre-rolls, vapes, gummies, and concentrates for medical retailers; adult use recreational cannabis under the SHRED, Holy Mountain, Big Bag O' Buds, Monjour, Trailblazer, SHRED'ems, Edison Cannabis Co, Edison JOLTS, Tremblant, and Laurentian brands.