Organigram Global (NASDAQ:OGI) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Organigram Global (NASDAQ:OGI) from a hold rating to a sell rating in a research note released on Saturday.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity Group began coverage on shares of Organigram Global in a report on Tuesday, January 27th. They issued a “buy” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Organigram Global in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold”.

Organigram Global Stock Up 0.7%

Shares of NASDAQ OGI opened at $1.51 on Friday. Organigram Global has a twelve month low of $0.85 and a twelve month high of $2.24. The firm has a market cap of $204.05 million, a PE ratio of -13.73 and a beta of 1.60. The business has a fifty day simple moving average of $1.69 and a two-hundred day simple moving average of $1.66.

Organigram Global (NASDAQ:OGI) last posted its quarterly earnings results on Tuesday, December 16th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.19). The firm had revenue of $57.53 million for the quarter, compared to the consensus estimate of $73.02 million. Organigram Global had a negative return on equity of 16.91% and a negative net margin of 9.99%. On average, research analysts expect that Organigram Global will post -0.19 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cidel Asset Management Inc. lifted its position in Organigram Global by 112.3% during the second quarter. Cidel Asset Management Inc. now owns 37,103 shares of the company’s stock valued at $50,000 after acquiring an additional 19,627 shares during the last quarter. PFS Partners LLC increased its position in shares of Organigram Global by 31.6% during the third quarter. PFS Partners LLC now owns 25,000 shares of the company’s stock worth $51,000 after purchasing an additional 6,000 shares in the last quarter. Bank of America Corp DE increased its position in shares of Organigram Global by 1,678.1% during the third quarter. Bank of America Corp DE now owns 37,357 shares of the company’s stock worth $76,000 after purchasing an additional 35,256 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Organigram Global by 140.5% during the 2nd quarter. Vontobel Holding Ltd. now owns 69,753 shares of the company’s stock valued at $94,000 after purchasing an additional 40,753 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft boosted its position in shares of Organigram Global by 5.3% in the 3rd quarter. Baader Bank Aktiengesellschaft now owns 263,915 shares of the company’s stock worth $519,000 after purchasing an additional 13,271 shares in the last quarter. Hedge funds and other institutional investors own 34.63% of the company’s stock.

About Organigram Global

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.