BMO Capital Markets cut shares of OrganiGram (NASDAQ:OGI) from an outperform rating to a market perform rating in a research report released on Tuesday, Briefing.com Automated Import reports.
Several other research analysts have also recently issued reports on OGI. Paradigm Capital set a $8.50 price objective on OrganiGram and gave the stock a buy rating in a research note on Thursday, October 17th. CIBC began coverage on OrganiGram in a research note on Tuesday, September 24th. They issued an outperformer rating and a $9.00 price objective for the company. Raymond James began coverage on OrganiGram in a research note on Wednesday, September 18th. They issued a buy rating for the company. Cantor Fitzgerald began coverage on OrganiGram in a research note on Tuesday, November 5th. They issued an overweight rating and a $17.10 price objective for the company. Finally, Zacks Investment Research upgraded OrganiGram from a hold rating to a buy rating and set a $4.00 price objective for the company in a research note on Thursday, October 17th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $9.80.
OrganiGram stock traded down $0.18 during mid-day trading on Tuesday, hitting $2.29. The company’s stock had a trading volume of 3,447,300 shares, compared to its average volume of 2,153,700. OrganiGram has a one year low of $2.25 and a one year high of $8.44. The company has a quick ratio of 4.61, a current ratio of 9.05 and a debt-to-equity ratio of 0.14. The company has a 50 day simple moving average of $3.40.
A number of institutional investors have recently bought and sold shares of OGI. TRUE Private Wealth Advisors acquired a new stake in OrganiGram during the second quarter worth about $25,000. Truvestments Capital LLC acquired a new stake in OrganiGram during the second quarter worth about $29,000. Executive Wealth Management LLC acquired a new stake in OrganiGram during the second quarter worth about $39,000. Tower Research Capital LLC TRC acquired a new stake in OrganiGram during the second quarter worth about $45,000. Finally, Wedbush Securities Inc. acquired a new stake in OrganiGram during the third quarter worth about $50,000. 13.65% of the stock is currently owned by hedge funds and other institutional investors.
OrganiGram Holdings Inc, through its subsidiaries, produces and sells dried cannabis and cannabis oil in Canada. It also offers wholesale shipping of cannabis plant cuttings, dried flowers, blends, pre-rolls, and cannabis oils to retailers and wholesalers. The company also exports its products. It sells its products online, as well as through phone orders.
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