OrganiGram Holdings Inc. (NASDAQ:OGI) Given Average Rating of “Moderate Buy” by Analysts

Shares of OrganiGram Holdings Inc. (NASDAQ:OGIGet Rating) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $3.36.

Separately, Atb Cap Markets upgraded OrganiGram from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, April 12th.

Hedge funds have recently modified their holdings of the business. Pinnacle Private Wealth LLC bought a new stake in OrganiGram in the fourth quarter worth approximately $39,000. Goldman Sachs Group Inc. grew its stake in OrganiGram by 47.1% in the third quarter. Goldman Sachs Group Inc. now owns 172,025 shares of the company’s stock valued at $396,000 after acquiring an additional 55,093 shares during the period. Mirabella Financial Services LLP acquired a new stake in OrganiGram in the fourth quarter valued at approximately $906,000. The Manufacturers Life Insurance Company grew its stake in OrganiGram by 3.6% in the third quarter. The Manufacturers Life Insurance Company now owns 246,359 shares of the company’s stock valued at $719,000 after acquiring an additional 8,503 shares during the period. Finally, National Bank of Canada FI acquired a new stake in OrganiGram in the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 11.78% of the company’s stock.

Shares of OGI opened at $0.93 on Thursday. OrganiGram has a 1 year low of $0.91 and a 1 year high of $3.13. The company has a market capitalization of $291.87 million, a price-to-earnings ratio of -10.34 and a beta of 0.38. The business has a 50-day moving average of $1.26 and a 200-day moving average of $1.50.

OrganiGram (NASDAQ:OGIGet Rating) last issued its quarterly earnings data on Tuesday, April 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.02). OrganiGram had a negative return on equity of 12.28% and a negative net margin of 32.87%. The company had revenue of $25.04 million during the quarter, compared to the consensus estimate of $24.28 million. During the same period last year, the company earned ($0.09) earnings per share. On average, research analysts predict that OrganiGram will post -0.11 EPS for the current fiscal year.

OrganiGram Company Profile (Get Rating)

Organigram Holdings Inc, through its subsidiaries, produces and sells cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including cannabis flowers, cannabis oils, and vaporizers for civilian patients and veterans; adult use recreational cannabis under the Edison Cannabis Co, Trail Blazer, SHRED, SHRED'ems, Big Bag O' Buds, and Monjour brands; and cannabis edibles products and concentrates.

Further Reading

Analyst Recommendations for OrganiGram (NASDAQ:OGI)

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