Organigram (NASDAQ:OGI) Upgraded to Buy by Alliance Global Partners

Alliance Global Partners upgraded shares of Organigram (NASDAQ:OGI) from a neutral rating to a buy rating in a research note published on Monday morning, Marketbeat.com reports.

Organigram Stock Performance

Shares of NASDAQ OGI opened at $1.87 on Monday. The stock has a market cap of $192.98 million, a PE ratio of -2.34 and a beta of 1.09. The business has a fifty day moving average of $2.10 and a two-hundred day moving average of $1.62. Organigram has a 52-week low of $0.97 and a 52-week high of $2.91.

Organigram (NASDAQ:OGI) last issued its quarterly earnings results on Tuesday, February 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.04). The company had revenue of $26.78 million for the quarter, compared to analyst estimates of $28.61 million. Organigram had a negative return on equity of 30.94% and a negative net margin of 173.48%. Analysts predict that Organigram will post -0.26 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC raised its holdings in Organigram by 54.8% during the 4th quarter. LPL Financial LLC now owns 45,531 shares of the company’s stock worth $36,000 after purchasing an additional 16,113 shares during the last quarter. Marshall Wace LLP bought a new stake in Organigram during the 3rd quarter worth about $38,000. Flow Traders U.S. LLC bought a new stake in Organigram during the 1st quarter worth about $48,000. ExodusPoint Capital Management LP bought a new stake in Organigram during the 2nd quarter worth about $49,000. Finally, Canton Hathaway LLC bought a new stake in Organigram during the 4th quarter worth about $49,000. Institutional investors and hedge funds own 34.63% of the company’s stock.

Organigram Company Profile

Organigram Holdings Inc, through its subsidiaries, engages in the production and sale of cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including whole flower, milled flower, pre-rolls, infused pre-rolls, vapes, gummies, and concentrates for medical retailers; adult use recreational cannabis under the SHRED, Holy Mountain, Big Bag O' Buds, Monjour, Trailblazer, SHRED'ems, Edison Cannabis Co, Edison JOLTS, Tremblant, and Laurentian brands.