OrganiGram Holdings Inc (NASDAQ:OGI) shares gapped down before the market opened on Thursday . The stock had previously closed at $3.22, but opened at $3.15. OrganiGram shares last traded at $2.72, with a volume of 3,270,712 shares traded.
Several analysts have recently issued reports on the company. CIBC assumed coverage on OrganiGram in a report on Tuesday, September 24th. They set an “outperformer” rating and a $9.00 target price on the stock. Pi Financial set a $12.00 target price on OrganiGram and gave the stock a “buy” rating in a report on Monday, July 15th. Raymond James assumed coverage on OrganiGram in a report on Wednesday, September 18th. They set a “buy” rating on the stock. Oppenheimer assumed coverage on OrganiGram in a report on Thursday, September 5th. They set a “market perform” rating on the stock. Finally, Jefferies Financial Group raised OrganiGram from a “hold” rating to a “buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. OrganiGram currently has an average rating of “Buy” and a consensus target price of $10.50.
The firm has a fifty day simple moving average of $4.09.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors acquired a new stake in shares of OrganiGram during the 2nd quarter worth $25,000. Truvestments Capital LLC acquired a new stake in OrganiGram in the second quarter valued at about $29,000. Executive Wealth Management LLC acquired a new stake in OrganiGram in the second quarter valued at about $39,000. Tower Research Capital LLC TRC acquired a new stake in OrganiGram in the second quarter valued at about $45,000. Finally, QCI Asset Management Inc. NY acquired a new stake in OrganiGram in the second quarter valued at about $56,000. 13.74% of the stock is currently owned by institutional investors.
OrganiGram Company Profile (NASDAQ:OGI)
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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