Organigram Global (NASDAQ:OGI) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Organigram Global (NASDAQ:OGI) from a hold rating to a sell rating in a report published on Saturday.

A number of other equities analysts have also commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Organigram Global in a research note on Monday, December 29th. Canaccord Genuity Group assumed coverage on shares of Organigram Global in a research note on Tuesday, January 27th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold”.

Organigram Global Trading Down 5.1%

Shares of NASDAQ:OGI opened at $1.50 on Friday. Organigram Global has a 1 year low of $0.85 and a 1 year high of $2.24. The firm has a fifty day moving average price of $1.70 and a 200 day moving average price of $1.66. The stock has a market capitalization of $202.70 million, a PE ratio of -13.64 and a beta of 1.52.

Organigram Global (NASDAQ:OGI) last issued its quarterly earnings data on Tuesday, December 16th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.19). The company had revenue of $57.53 million for the quarter, compared to analyst estimates of $73.02 million. Organigram Global had a negative net margin of 9.99% and a negative return on equity of 16.91%. On average, sell-side analysts forecast that Organigram Global will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of Organigram Global

Several hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP bought a new position in Organigram Global in the 3rd quarter valued at $907,000. AdvisorShares Investments LLC raised its holdings in Organigram Global by 31.2% in the third quarter. AdvisorShares Investments LLC now owns 1,052,394 shares of the company’s stock worth $2,136,000 after purchasing an additional 250,000 shares during the period. Tidal Investments LLC raised its stake in Organigram Global by 4.9% during the 2nd quarter. Tidal Investments LLC now owns 2,646,879 shares of the company’s stock worth $3,573,000 after buying an additional 124,356 shares during the period. Vontobel Holding Ltd. raised its position in shares of 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. Finally, Bank of America Corp DE raised its holdings in shares of 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 acquiring an additional 35,256 shares during the period. 34.63% of the stock is owned by institutional investors.

Organigram Global Company Profile

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.