Organigram Global (NASDAQ:OGI) Raised to Hold 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 research note issued on Saturday.

Several other research firms have also commented on OGI. Weiss Ratings reissued a “sell (d-)” rating on shares of Organigram Global in a research note on Monday, December 29th. ATB Cormark Capital Markets lowered Organigram Global from a “strong-buy” rating to a “moderate buy” rating in a research note on Wednesday, February 11th. Finally, Canaccord Genuity Group started coverage on Organigram Global in a research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Organigram Global Stock Up 0.8%

Shares of OGI stock opened at $1.29 on Friday. The stock has a 50-day simple moving average of $1.66 and a 200 day simple moving average of $1.66. Organigram Global has a fifty-two week low of $0.85 and a fifty-two week high of $2.24. The stock has a market capitalization of $174.32 million, a P/E ratio of 9.21 and a beta of 1.60.

Organigram Global (NASDAQ:OGI) last issued 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). Organigram Global had a negative return on equity of 15.41% and a net margin of 6.03%.The business had revenue of $46.27 million during the quarter, compared to the consensus estimate of $73.38 million. On average, sell-side analysts anticipate that Organigram Global will post -0.19 earnings per share for the current year.

Hedge Funds Weigh In On Organigram Global

Large investors have recently made changes to their positions in the business. 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 purchasing an additional 6,000 shares during the period. Baader Bank Aktiengesellschaft lifted its position in Organigram Global by 5.3% in the 3rd quarter. Baader Bank Aktiengesellschaft now owns 263,915 shares of the company’s stock worth $519,000 after buying an additional 13,271 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Organigram Global during the 4th quarter valued at $25,000. AXQ Capital LP purchased a new position in shares of Organigram Global during the 4th quarter valued at $27,000. Finally, Cidel Asset Management Inc. increased its stake in shares of Organigram Global by 47.1% in the third quarter. Cidel Asset Management Inc. now owns 54,579 shares of the company’s stock worth $111,000 after acquiring an additional 17,476 shares during the last quarter. Institutional investors and hedge funds own 34.63% of the company’s stock.

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.