Organigram Global (NASDAQ:OGI) Stock Price Down 2% – Should You Sell?

Organigram Global Inc. (NASDAQ:OGI) dropped 2% during mid-day trading on Monday . The stock traded as low as $1.41 and last traded at $1.44. Approximately 540,739 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 806,129 shares. The stock had previously closed at $1.47.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on OGI shares. ATB Cormark Capital Markets downgraded shares of Organigram Global from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, February 11th. Canaccord Genuity Group initiated coverage on Organigram Global in a research report on Tuesday, January 27th. They issued a “buy” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Organigram Global in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Organigram Global from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Organigram Global Stock Up 4.9%

The stock has a market capitalization of $205.86 million, a PE ratio of 10.79 and a beta of 1.51. The firm’s fifty day moving average price is $1.53 and its two-hundred day moving average price is $1.65.

Organigram Global (NASDAQ:OGI) last issued its earnings results on Tuesday, February 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Organigram Global had a negative return on equity of 15.41% and a net margin of 6.03%.The company had revenue of $46.27 million during the quarter, compared to analysts’ expectations of $73.38 million. As a group, analysts predict that Organigram Global Inc. will post -0.19 EPS for the current year.

Institutional Trading of Organigram Global

Several large investors have recently modified their holdings of the company. Virtu Financial LLC bought a new position in Organigram Global in the fourth quarter valued at about $188,000. Millennium Management LLC bought a new stake in shares of Organigram Global during the 4th quarter valued at about $1,260,000. Lazard Asset Management LLC purchased a new stake in shares of Organigram Global during the 4th quarter valued at about $280,000. Walleye Capital LLC purchased a new stake in shares of Organigram Global during the 4th quarter valued at about $25,000. Finally, HRT Financial LP bought a new position in shares of Organigram Global in the 4th quarter worth approximately $52,000. Institutional investors own 34.63% of the company’s stock.

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.