Organigram Global (NASDAQ:OGI) Announces Quarterly Earnings Results

Key Points

• Organigram Global reported a quarterly earnings per share (EPS) of ($0.03), missing analysts' expectations of ($0.01), with revenue of $50.49 million compared to a consensus estimate of $68.04 million.
• The company's stock price declined 8.3% to $1.43, with a market capitalization of $191.66 million and a price-to-earnings ratio of 28.61.
• 34.63% of Organigram's shares are owned by institutional investors, with Tidal Investments LLC increasing its stake by 4.9% during the second quarter.

Organigram Global (NASDAQ:OGI - Get Free Report) announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.02), Zacks reports. Organigram Global had a net margin of 2.86% and a negative return on equity of 8.19%. The firm had revenue of $50.49 million during the quarter, compared to analysts' expectations of $68.04 million.

Organigram Global Stock Down 1.3%

OGI stock traded down $0.02 during trading on Wednesday, hitting $1.50. 593,757 shares of the company's stock traded hands, compared to its average volume of 937,273. The firm has a market capitalization of $201.08 million, a P/E ratio of 30.01 and a beta of 1.45. Organigram Global has a 1 year low of $0.85 and a 1 year high of $2.0550. The business has a fifty day simple moving average of $1.43 and a two-hundred day simple moving average of $1.27.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Organigram Global from a "hold" rating to a "sell" rating in a report on Saturday.

Institutional Trading of Organigram Global

A hedge fund recently raised its stake in Organigram Global stock. Tidal Investments LLC raised its position in shares of Organigram Global Inc. (NASDAQ:OGI - Free Report) by 4.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,646,879 shares of the company's stock after buying an additional 124,356 shares during the quarter. Tidal Investments LLC owned about 1.97% of Organigram Global worth $3,573,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 34.63% of the company's stock.

Organigram Global Company 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.