Organigram Global (NASDAQ:OGI) Cut to “Moderate Buy” at ATB Cormark Capital Markets

ATB Cormark Capital Markets downgraded shares of Organigram Global (NASDAQ:OGI) from a strong-buy rating to a moderate buy rating in a research note published on Wednesday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Canaccord Genuity Group initiated coverage on shares of Organigram Global in a report on Tuesday, January 27th. They issued a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Organigram Global in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Organigram Global from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Organigram Global has an average rating of “Hold”.

Organigram Global Price Performance

OGI opened at $1.29 on Wednesday. The company has a market capitalization of $174.32 million, a price-to-earnings ratio of 9.21 and a beta of 1.60. The business’s 50-day moving average price is $1.66 and its two-hundred day moving average price is $1.66. Organigram Global has a 1 year low of $0.85 and a 1 year high of $2.24.

Organigram Global (NASDAQ:OGI) last posted its quarterly earnings data on Tuesday, February 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The firm had revenue of $46.27 million for the quarter, compared to the consensus estimate of $73.38 million. Organigram Global had a negative return on equity of 15.41% and a net margin of 6.03%. Sell-side analysts anticipate that Organigram Global will post -0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Organigram Global

A number of hedge funds and other institutional investors have recently bought and sold shares of OGI. Walleye Capital LLC bought a new stake in Organigram Global in the fourth quarter valued at approximately $25,000. AXQ Capital LP bought a new position in shares of Organigram Global during the 4th quarter worth approximately $27,000. StoneX Group Inc. acquired a new position in shares of Organigram Global during the 4th quarter worth approximately $30,000. Cidel Asset Management Inc. raised its stake 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 acquiring an additional 19,627 shares during the period. Finally, PFS Partners LLC lifted its holdings in Organigram Global by 31.6% during the 3rd quarter. PFS Partners LLC now owns 25,000 shares of the company’s stock valued at $51,000 after purchasing an additional 6,000 shares during the last quarter. Institutional investors 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.