OrganiGram Holdings Inc (NASDAQ:OGI) Given Consensus Recommendation of “Buy” by Analysts

OrganiGram Holdings Inc (NASDAQ:OGI) has received an average rating of “Buy” from the eight research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $9.80.

Several analysts have weighed in on OGI shares. Oppenheimer started coverage on shares of OrganiGram in a research note on Thursday, September 5th. They set a “market perform” rating for the company. CIBC started coverage on shares of OrganiGram in a research note on Tuesday, September 24th. They set an “outperformer” rating and a $9.00 target price for the company. Pi Financial set a $12.00 target price on shares of OrganiGram and gave the company a “buy” rating in a research note on Monday, July 15th. Cantor Fitzgerald started coverage on shares of OrganiGram in a research note on Tuesday. They set an “overweight” rating and a $17.10 target price for the company. Finally, Raymond James started coverage on shares of OrganiGram in a research note on Wednesday, September 18th. They set a “buy” rating for the company.

OGI stock opened at $3.66 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 9.05 and a quick ratio of 4.61. OrganiGram has a 1-year low of $2.71 and a 1-year high of $8.44. The company’s fifty day simple moving average is $3.54.

Several institutional investors have recently added to or reduced their stakes in OGI. ETF Managers Group LLC bought a new position in shares of OrganiGram during the second quarter worth about $44,872,000. Polar Asset Management Partners Inc. bought a new position in shares of OrganiGram during the second quarter worth about $10,144,000. JW Asset Management LLC bought a new position in shares of OrganiGram during the second quarter worth about $7,311,000. Ardsley Advisory Partners LP bought a new position in shares of OrganiGram during the second quarter worth about $6,437,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of OrganiGram during the second quarter worth about $6,095,000. Institutional investors and hedge funds own 13.80% of the company’s stock.

OrganiGram Company Profile

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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Analyst Recommendations for OrganiGram (NASDAQ:OGI)

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