BMO Capital Markets cut shares of OrganiGram (NASDAQ:OGI) from an outperform rating to a market perform rating in a research report report published on Tuesday, Briefing.com Automated Import reports.
Other equities research analysts also recently issued research reports about the company. Pi Financial set a $12.00 price target on OrganiGram and gave the company a buy rating in a research report on Monday, July 15th. Raymond James assumed coverage on OrganiGram in a research report on Wednesday, September 18th. They set a buy rating for the company. Cantor Fitzgerald assumed coverage on OrganiGram in a research report on Tuesday, November 5th. They set an overweight rating and a $17.10 price target for the company. Paradigm Capital set a $8.50 price target on OrganiGram and gave the company a buy rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group raised OrganiGram from a hold rating to a buy rating and set a $8.20 price target for the company in a research report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. OrganiGram currently has a consensus rating of Buy and a consensus price target of $9.80.
OGI traded down $0.18 during trading on Tuesday, reaching $2.29. 3,447,300 shares of the stock were exchanged, compared to its average volume of 2,153,700. The stock’s 50 day moving average price is $3.40. OrganiGram has a 1 year low of $2.25 and a 1 year high of $8.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.61 and a current ratio of 9.05.
Hedge funds have recently bought and sold shares of the business. TRUE Private Wealth Advisors purchased a new stake in shares of OrganiGram in the second quarter worth about $25,000. Sfmg LLC boosted its position in shares of OrganiGram by 17.4% in the third quarter. Sfmg LLC now owns 28,044 shares of the company’s stock worth $96,000 after buying an additional 4,159 shares during the period. Truvestments Capital LLC purchased a new stake in shares of OrganiGram in the second quarter worth about $29,000. Traynor Capital Management Inc. boosted its position in shares of OrganiGram by 19.2% in the third quarter. Traynor Capital Management Inc. now owns 31,055 shares of the company’s stock worth $106,000 after buying an additional 5,000 shares during the period. Finally, Executive Wealth Management LLC purchased a new stake in shares of OrganiGram in the second quarter worth about $39,000. 13.65% of the stock is owned by hedge funds and other institutional investors.
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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