Organigram Global (NASDAQ:OGI) Now Covered by Canaccord Genuity Group

Stock analysts at Canaccord Genuity Group initiated coverage on shares of Organigram Global (NASDAQ:OGI) in a research report issued on Tuesday. The brokerage set a “buy” rating on the stock.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Organigram Global in a research report on Monday, December 29th. Wall Street Zen upgraded Organigram Global from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Organigram Global presently has a consensus rating of “Hold”.

Organigram Global Stock Up 1.6%

Shares of OGI traded up $0.03 during midday trading on Tuesday, reaching $1.63. 64,129 shares of the stock were exchanged, compared to its average volume of 862,070. The stock’s 50 day simple moving average is $1.69 and its 200 day simple moving average is $1.66. The company has a market cap of $219.59 million, a P/E ratio of -14.68 and a beta of 1.52. Organigram Global has a twelve month low of $0.85 and a twelve month high of $2.24.

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

Institutional Trading of Organigram Global

Several hedge funds and other institutional investors have recently made changes to their positions in OGI. PFS Partners LLC lifted its holdings in Organigram Global by 31.6% during the 3rd quarter. PFS Partners LLC now owns 25,000 shares of the company’s stock worth $51,000 after buying an additional 6,000 shares during the period. Cidel Asset Management Inc. lifted its position in shares of Organigram Global by 112.3% during the 2nd 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 period. Bank of America Corp DE grew its holdings in Organigram Global by 1,678.1% in 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 during the period. Vontobel Holding Ltd. increased its stake in Organigram Global by 140.5% in the second 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 in the last quarter. Finally, Baader Bank Aktiengesellschaft boosted its position in shares of Organigram Global by 5.3% during 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. 34.63% of the stock is currently owned by institutional investors.

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.