OrganiGram (NASDAQ:OGI) had its target price upped by research analysts at CIBC from $2.25 to $4.25 in a report issued on Monday, The Fly reports. The brokerage currently has a "neutral" rating on the stock. CIBC's price target suggests a potential upside of 23.55% from the company's current price.
OGI has been the subject of several other reports. Alliance Global Partners lowered OrganiGram from a "buy" rating to a "neutral" rating in a research report on Wednesday, January 13th. Canaccord Genuity lowered shares of OrganiGram from a "buy" rating to a "hold" rating and decreased their price target for the company from $2.50 to $2.00 in a research report on Tuesday, January 12th. Raymond James raised shares of OrganiGram from a "market perform" rating to an "outperform" rating in a research report on Tuesday, January 12th. Finally, Cantor Fitzgerald reduced their price objective on shares of OrganiGram from $5.35 to $3.00 and set an "overweight" rating for the company in a research note on Friday, December 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of "Hold" and an average price target of $2.81.
Shares of OGI traded down $0.08 during midday trading on Monday, hitting $3.44. The stock had a trading volume of 736,173 shares, compared to its average volume of 31,696,469. The stock's 50 day moving average is $2.27 and its 200 day moving average is $1.51. The firm has a market cap of $798.45 million, a PE ratio of -5.06 and a beta of 0.30. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.66 and a quick ratio of 3.39. OrganiGram has a 1 year low of $1.01 and a 1 year high of $6.45.
OrganiGram (NASDAQ:OGI) last announced its quarterly earnings data on Monday, November 30th. The company reported ($0.03) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.03). OrganiGram had a negative net margin of 207.26% and a negative return on equity of 10.00%. The company had revenue of $15.19 million during the quarter, compared to analyst estimates of $14.77 million. As a group, equities research analysts expect that OrganiGram will post -0.11 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Apollon Wealth Management LLC acquired a new position in shares of OrganiGram in the 4th quarter valued at about $154,000. TD Asset Management Inc. raised its position in shares of OrganiGram by 10.4% in the third quarter. TD Asset Management Inc. now owns 146,363 shares of the company's stock worth $154,000 after acquiring an additional 13,738 shares during the period. Virtu Financial LLC acquired a new stake in shares of OrganiGram during the 3rd quarter valued at about $113,000. Marathon Capital Management purchased a new position in shares of OrganiGram in the 4th quarter valued at about $33,000. Finally, Meitav Dash Investments Ltd. purchased a new stake in shares of OrganiGram in the fourth quarter valued at approximately $67,000. Institutional investors own 10.84% of the company's stock.
Organigram Holdings Inc, through its subsidiaries, produces and sells cannabis and cannabis-derived products in Canada. It offers cannabis flowers, extracts, edibles and oils, beverages, and other cannabis products for adult recreational market under the Edison Reserve, Edison Cannabis Co, ANKR Organics, and Trailblazer brands; and medical cannabis products, including strains, cannabis oils, extracts, edibles, beverages, and vaporizers for the medical market.
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