Millennium Management LLC Trims Stock Holdings in Organigram Holdings Inc. (NASDAQ:OGI)

Millennium Management LLC reduced its stake in Organigram Holdings Inc. (NASDAQ:OGI - Free Report) by 49.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 645,780 shares of the company's stock after selling 627,436 shares during the quarter. Millennium Management LLC owned about 0.51% of Organigram worth $1,038,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Cubist Systematic Strategies LLC lifted its position in shares of Organigram by 210.7% in the fourth quarter. Cubist Systematic Strategies LLC now owns 45,095 shares of the company's stock valued at $73,000 after acquiring an additional 30,583 shares in the last quarter. Oxford Asset Management LLP purchased a new stake in shares of Organigram in the fourth quarter valued at $50,000. Two Sigma Securities LLC purchased a new position in Organigram during the fourth quarter worth about $26,000. Dimensional Fund Advisors LP lifted its position in Organigram by 13.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 359,739 shares of the company's stock worth $579,000 after buying an additional 43,721 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Organigram by 2.4% during the fourth quarter. Renaissance Technologies LLC now owns 914,648 shares of the company's stock worth $1,473,000 after buying an additional 21,200 shares during the period. 34.63% of the stock is currently owned by hedge funds and other institutional investors.

Organigram Price Performance

Shares of NASDAQ:OGI opened at $1.31 on Friday. The firm has a market capitalization of $175.39 million, a PE ratio of -3.45 and a beta of 1.35. The business has a 50-day moving average of $1.15 and a two-hundred day moving average of $1.32. Organigram Holdings Inc. has a 12 month low of $0.85 and a 12 month high of $2.08.

Organigram Profile

Organigram Holdings Inc, through its subsidiaries, engages in the production and sale of cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including whole flower, milled flower, pre-rolls, infused pre-rolls, vapes, gummies, and concentrates for medical retailers; adult use recreational cannabis under the SHRED, Holy Mountain, Big Bag O' Buds, Monjour, Trailblazer, SHRED'ems, Edison Cannabis Co, Edison JOLTS, Tremblant, and Laurentian brands.

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