Organigram (NASDAQ:OGI) Upgraded at Alliance Global Partners

Alliance Global Partners upgraded shares of Organigram (NASDAQ:OGI) from a neutral rating to a buy rating in a report issued on Monday morning, MarketBeat Ratings reports.

Organigram Price Performance

Shares of Organigram stock opened at $1.83 on Monday. Organigram has a fifty-two week low of $0.97 and a fifty-two week high of $2.91. The firm has a fifty day moving average price of $2.11 and a two-hundred day moving average price of $1.62. The company has a market cap of $188.86 million, a PE ratio of -2.29 and a beta of 1.09.

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

Institutional Trading of Organigram

A number of hedge funds have recently bought and sold shares of the stock. Canton Hathaway LLC bought a new position in shares of Organigram during the 4th quarter worth about $49,000. Millennium Management LLC lifted its holdings in shares of Organigram by 569.4% during the 2nd quarter. Millennium Management LLC now owns 461,291 shares of the company’s stock worth $423,000 after acquiring an additional 392,377 shares during the period. Virtu Financial LLC bought a new position in shares of Organigram during the 2nd quarter worth about $54,000. Renaissance Technologies LLC lifted its holdings in shares of Organigram by 362.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,072,951 shares of the company’s stock worth $984,000 after acquiring an additional 840,951 shares during the period. Finally, Credit Suisse AG lifted its holdings in shares of Organigram by 6.9% during the 2nd quarter. Credit Suisse AG now owns 193,129 shares of the company’s stock worth $177,000 after acquiring an additional 12,544 shares during the period. 34.63% of the stock is owned by institutional investors.

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.