OrganiGram (NASDAQ:OGI – Get Rating) will be releasing its earnings data before the market opens on Tuesday, April 12th. Analysts expect OrganiGram to post earnings of ($0.02) per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.
OrganiGram (NASDAQ:OGI – Get Rating) last released its earnings results on Tuesday, January 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.03). The company had revenue of $24.18 million for the quarter, compared to analyst estimates of $23.38 million. OrganiGram had a negative net margin of 107.01% and a negative return on equity of 18.09%. On average, analysts expect OrganiGram to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.
OrganiGram stock opened at $1.48 on Monday. The firm has a market cap of $464.26 million, a PE ratio of -4.93 and a beta of 0.26. OrganiGram has a 52-week low of $1.27 and a 52-week high of $3.52. The company’s 50 day moving average is $1.54 and its two-hundred day moving average is $1.85.
A number of equities research analysts have commented on OGI shares. Canaccord Genuity Group raised shares of OrganiGram from a “hold” rating to a “buy” rating and increased their price objective for the company from C$3.00 to C$3.25 in a research report on Wednesday, January 12th. Cantor Fitzgerald dropped their price objective on shares of OrganiGram from $5.70 to $5.30 and set an “overweight” rating on the stock in a research report on Wednesday, January 12th. Canaccord Genuity Group raised shares of OrganiGram from a “hold” rating to a “speculative buy” rating and increased their price objective for the company from $3.00 to $3.25 in a research report on Wednesday, January 12th. Zacks Investment Research upgraded shares of OrganiGram from a “sell” rating to a “hold” rating in a research note on Wednesday, March 30th. Finally, Stifel Nicolaus cut their price target on shares of OrganiGram from C$2.75 to C$2.25 in a research note on Thursday, January 13th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.57.
Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC raised its position in OrganiGram by 533.3% during the fourth quarter. Millennium Management LLC now owns 1,263,033 shares of the company’s stock worth $2,218,000 after acquiring an additional 1,063,604 shares during the last quarter. Morgan Stanley raised its position in OrganiGram by 61.5% during the second quarter. Morgan Stanley now owns 855,236 shares of the company’s stock worth $2,446,000 after acquiring an additional 325,737 shares during the last quarter. Bank of America Corp DE raised its position in OrganiGram by 63.5% during the fourth quarter. Bank of America Corp DE now owns 687,255 shares of the company’s stock worth $1,203,000 after acquiring an additional 267,010 shares during the last quarter. Goldman Sachs Group Inc. raised its position in OrganiGram by 116.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 371,961 shares of the company’s stock worth $651,000 after acquiring an additional 199,936 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in OrganiGram by 17.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,305,642 shares of the company’s stock worth $2,293,000 after acquiring an additional 192,942 shares during the last quarter. 11.78% of the stock is currently owned by hedge funds and other institutional investors.
About OrganiGram (Get Rating)
Organigram Holdings Inc, through its subsidiaries, produces and sells cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including cannabis flowers, cannabis oils, and vaporizers for civilian patients and veterans; adult use recreational cannabis under the Edison Cannabis Co, Trail Blazer, SHRED, SHRED’ems, Big Bag O’ Buds, and Monjour brands; and cannabis edibles products and concentrates.
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