Organigram Global (NASDAQ:OGI) Announces 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) issued its quarterly earnings data on Wednesday. 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 8.49%. The company had revenue of $50.49 million for the quarter, compared to the consensus estimate of $68.04 million.

Organigram Global Stock Down 8.3%

Shares of OGI traded down $0.13 on Friday, hitting $1.43. The company's stock had a trading volume of 1,072,349 shares, compared to its average volume of 728,569. The firm's fifty day moving average price is $1.43 and its 200-day moving average price is $1.27. Organigram Global has a fifty-two week low of $0.85 and a fifty-two week high of $2.08. The firm has a market capitalization of $191.66 million, a price-to-earnings ratio of 28.61 and a beta of 1.45.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Organigram Global stock. Tidal Investments LLC raised its position in Organigram Global Inc. (NASDAQ:OGI - Free Report) by 4.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,646,879 shares of the company's stock after acquiring an additional 124,356 shares during the period. Tidal Investments LLC owned approximately 1.97% of Organigram Global worth $3,573,000 as of its most recent filing with the SEC. 34.63% of the stock is currently owned by institutional investors and hedge funds.

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.

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