Organigram Holdings Inc. (NASDAQ:OGI - Free Report) - Analysts at Atb Cap Markets raised their Q2 2024 earnings estimates for Organigram in a report released on Tuesday, April 2nd. Atb Cap Markets analyst F. Gomes now anticipates that the company will earn ($0.07) per share for the quarter, up from their prior forecast of ($0.08). The consensus estimate for Organigram's current full-year earnings is ($0.26) per share. Atb Cap Markets also issued estimates for Organigram's FY2024 earnings at ($0.30) EPS and FY2025 earnings at ($0.04) EPS.
Organigram Price Performance
OGI stock traded up $0.02 during midday trading on Friday, hitting $2.12. 1,789,507 shares of the stock traded hands, compared to its average volume of 1,368,719. The firm has a market cap of $218.78 million, a P/E ratio of -2.65 and a beta of 1.09. The stock's fifty day simple moving average is $2.08 and its 200-day simple moving average is $1.59. Organigram has a 1-year low of $0.97 and a 1-year high of $2.92.
Organigram (NASDAQ:OGI - Get Free Report) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.04). The firm had revenue of $26.78 million for the quarter, compared to analyst estimates of $28.61 million. Organigram had a negative net margin of 173.48% and a negative return on equity of 30.94%.
Institutional Trading of Organigram
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vontobel Holding Ltd. increased its stake in shares of Organigram by 1.8% during the first quarter. Vontobel Holding Ltd. now owns 538,474 shares of the company's stock worth $896,000 after purchasing an additional 9,638 shares in the last quarter. Credit Suisse AG boosted its position in Organigram by 6.9% during the second quarter. Credit Suisse AG now owns 193,129 shares of the company's stock worth $177,000 after acquiring an additional 12,544 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Organigram by 6.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 232,330 shares of the company's stock worth $304,000 after acquiring an additional 13,203 shares during the last quarter. LPL Financial LLC boosted its position in Organigram by 54.8% during the fourth quarter. LPL Financial LLC now owns 45,531 shares of the company's stock worth $36,000 after acquiring an additional 16,113 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in Organigram during the fourth quarter worth about $142,000. Hedge funds and other institutional investors own 34.63% of the company's stock.
Organigram Company Profile
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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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