OrganiGram (NASDAQ:OGI) Upgraded at BMO Capital Markets


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OrganiGram (NASDAQ:OGI) was upgraded by equities research analysts at BMO Capital Markets from an “underperform” rating to a “market perform” rating in a research report issued on Thursday, Price Targets.com reports.

OGI has been the topic of several other reports. Stifel Nicolaus boosted their price objective on OrganiGram from $1.90 to $6.00 and gave the company a “hold” rating in a research report on Tuesday, March 16th. Zacks Investment Research upgraded OrganiGram from a “sell” rating to a “hold” rating in a research report on Wednesday, March 17th. Canaccord Genuity downgraded OrganiGram from a “buy” rating to a “hold” rating and lowered their price objective for the company from $2.50 to $2.00 in a research report on Tuesday, January 12th. Cantor Fitzgerald restated an “overweight” rating and issued a $6.00 price objective (up from $3.50) on shares of OrganiGram in a research report on Thursday, March 11th. They noted that the move was a valuation call. Finally, CIBC boosted their price objective on OrganiGram from $4.25 to $5.00 and gave the company a “neutral” rating in a research report on Friday, March 12th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $4.09.

NASDAQ:OGI opened at $3.16 on Thursday. The stock has a 50-day simple moving average of $3.49 and a two-hundred day simple moving average of $2.03. OrganiGram has a 52-week low of $1.01 and a 52-week high of $6.45. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.39 and a current ratio of 2.66. The firm has a market capitalization of $733.98 million, a PE ratio of -4.65 and a beta of 0.30.

OrganiGram (NASDAQ:OGI) last released its quarterly earnings results on Monday, January 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.14). OrganiGram had a negative net margin of 207.26% and a negative return on equity of 10.00%. The company had revenue of $14.69 million for the quarter, compared to the consensus estimate of $16.02 million. Equities analysts forecast that OrganiGram will post -0.11 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Apollon Wealth Management LLC purchased a new stake in OrganiGram during the fourth quarter valued at approximately $154,000. Penserra Capital Management LLC raised its position in OrganiGram by 521.0% during the fourth quarter. Penserra Capital Management LLC now owns 629,040 shares of the company’s stock valued at $836,000 after purchasing an additional 527,740 shares during the period. Virtu Financial LLC purchased a new stake in OrganiGram during the third quarter valued at approximately $113,000. Sigma Planning Corp raised its position in OrganiGram by 11.7% during the fourth quarter. Sigma Planning Corp now owns 103,675 shares of the company’s stock valued at $138,000 after purchasing an additional 10,873 shares during the period. Finally, Swiss National Bank raised its position in OrganiGram by 28.9% during the fourth quarter. Swiss National Bank now owns 516,100 shares of the company’s stock valued at $686,000 after purchasing an additional 115,700 shares during the period. Institutional investors and hedge funds own 10.84% of the company’s stock.

OrganiGram Company Profile

Organigram Holdings Inc, through its subsidiaries, produces and sells cannabis and cannabis-derived products in Canada. It offers cannabis flowers, extracts, edibles and oils, beverages, and other cannabis products for adult recreational market under the Edison Reserve, Edison Cannabis Co, ANKR Organics, and Trailblazer brands; and medical cannabis products, including strains, cannabis oils, extracts, edibles, beverages, and vaporizers for the medical market.

Read More: Equity Income

Analyst Recommendations for OrganiGram (NASDAQ:OGI)

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