Organigram Global (NASDAQ:OGI) Stock Rating Upgraded by Wall Street Zen

Organigram Global (NASDAQ:OGI) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other research analysts also recently issued reports on the company. ATB Cormark Capital Markets downgraded Organigram Global from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Organigram Global in a research note on Monday, December 29th. Finally, Canaccord Genuity Group started coverage on Organigram Global in a research note on Tuesday, January 27th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Organigram Global Trading Up 0.8%

NASDAQ:OGI opened at $1.29 on Friday. The company has a market cap of $174.32 million, a price-to-earnings ratio of 9.21 and a beta of 1.60. Organigram Global has a twelve month low of $0.85 and a twelve month high of $2.24. The stock has a fifty day simple moving average of $1.66 and a 200-day simple moving average of $1.66.

Organigram Global (NASDAQ:OGI) last announced its quarterly earnings data on Tuesday, February 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Organigram Global had a negative return on equity of 15.41% and a net margin of 6.03%.The firm had revenue of $46.27 million during the quarter, compared to the consensus estimate of $73.38 million. As a group, equities research analysts predict that Organigram Global will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Organigram Global

Several hedge funds have recently made changes to their positions in the company. Walleye Capital LLC acquired a new stake in shares of Organigram Global in the fourth quarter worth $25,000. HRT Financial LP acquired a new position in Organigram Global during the fourth quarter valued at $52,000. StoneX Group Inc. purchased a new stake in Organigram Global in the fourth quarter valued at $30,000. Renaissance Technologies LLC boosted its holdings in Organigram Global by 43.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,405,348 shares of the company’s stock valued at $2,361,000 after purchasing an additional 423,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Organigram Global by 16.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 193,547 shares of the company’s stock worth $325,000 after purchasing an additional 26,733 shares during the period. 34.63% of the stock is owned by institutional investors and hedge funds.

Organigram Global Company Profile

Organigram Global Inc (NASDAQ: OGI) is a licensed producer of cannabis and hemp products headquartered in Moncton, New Brunswick, Canada. Founded in 2013, the company operates a state-of-the-art cultivation and manufacturing facility spanning more than one million square feet. Organigram holds licenses from Health Canada to produce and sell both medical and adult-use cannabis, and it pursues Good Manufacturing Practice (GMP) certification to support international exports.

The company’s product portfolio encompasses dried flower, pre-rolled joints, cannabis oils, capsules and soft gels, as well as vapourizer cartridges and extracts.