Stocks of Organigram Holdings Inc. (NASDAQ:OGI) traded higher last session on Wall Street, up 4.92% to $0.42.
According to the data, Organigram Holdings Inc. (NASDAQ:OGI) has 10 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $1.67 and a low of $0.74, we find $0.93. Given the previous closing price of $0.40, this indicates a potential upside of 132.5 percent. OGI stock price is now -20.41% away from the 50-day moving average and -48.26% away from the 200-day moving average. The market capitalization of the company currently stands at $170.98M.
A total of 5 analysts have issued a hold rating and 4 have given it a buy rating. Brokers who have rated the stock have averaged $1.07 as their price target over the next twelve months.
A total of 19.49% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in OGI stock. A new stake in Organigram Holdings Inc. shares was purchased by ETF MANAGERS GROUP, LLC during the first quarter worth $3,089,000. AXS INVESTMENTS LLC invested $578,000 in shares of OGI during the first quarter. In the first quarter, JANE STREET GROUP, LLC acquired a new stake in Organigram Holdings Inc. valued at approximately $32,000. BLUEFIN CAPITAL MANAGEMENT, LLC acquired a new stake in OGI for approximately $10,000. STATE OF WISCONSIN INVESTMENT BOARD purchased a new stake in OGI valued at around $7,000 in the second quarter. In total, there are 146 active investors with 10.81% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $0.3953 for Organigram Holdings Inc. (NASDAQ: OGI). During the past 12 months, Organigram Holdings Inc. has had a low of $0.37 and a high of $1.27. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 6.50, and a quick ratio of 3.70. The fifty day moving average price for OGI is $0.5231 and a two-hundred day moving average price translates $0.8077 for the stock.
The latest earnings results from Organigram Holdings Inc. (NASDAQ: OGI) was released for Feb, 2023. According to the Drug Manufacturers – Specialty & Generic Company, earnings per share came in at -$0.02, missing analysts’ expectations of -$0.01 by -0.01. This compares to -$0.01 EPS in the same period last year. The net profit margin was -6.70% and return on equity was -2.20% for OGI. The company reported revenue of $29.26 million for the quarter, compared to $25.04 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 16.87 percent. For the current quarter, analysts expect OGI to generate $31.44M in revenue.
Organigram Holdings Inc.(OGI) Company Profile
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 cannabis flowers, gummies, cannabis oils, and vaporizers for civilian patients and veterans; adult use recreational cannabis under the SHRED, Big Bag O’ Buds, Monjour, SHRED’ems, Edison Cannabis Co., Edison JOLTS, Tremblant, and Laurentian brands; and cannabis edibles products and concentrates. The company also engages in the wholesale shipping of cannabis plant cuttings, dried flowers, blends, pre-rolls, and cannabis derivative-based products to retailers and wholesalers for adult-use recreational cannabis. It sells its products through online, as well as telephone channels. Organigram Holdings Inc. was incorporated in 2010 and is headquartered in Toronto, Canada.