Organigram Global (NASDAQ:OGI) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Organigram Global from hold to sell, even as other analysts remain mixed; the stock’s consensus rating is still Hold.
• Organigram Global’s latest quarterly results missed estimates, with EPS of -$0.02 versus expected -$0.01 and revenue of $46.27 million versus $73.38 million anticipated.
• The stock was down 1.4% and opened at $1.36; the company has a market cap of about $191.45 million and trades near the lower end of its 12-month range.

Organigram Global (NASDAQ:OGI - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

A number of other research firms have also weighed in on OGI. Canaccord Genuity Group started coverage on shares of Organigram Global in a report on Tuesday, January 27th. They set a "buy" rating for the company. ATB Cormark Capital Markets downgraded shares of Organigram Global from a "strong-buy" rating to a "moderate buy" rating in a research note on Wednesday, February 11th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold".

Organigram Global Trading Down 1.4%

OGI opened at $1.36 on Friday. The company has a fifty day simple moving average of $1.41 and a 200 day simple moving average of $1.55. The firm has a market cap of $191.45 million, a price-to-earnings ratio of 9.71 and a beta of 1.50. Organigram Global has a twelve month low of $1.11 and a twelve month high of $2.24.

Organigram Global (NASDAQ:OGI - Get Free Report) last released its quarterly earnings results on Tuesday, February 10th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The firm had revenue of $46.27 million for the quarter, compared to analyst estimates of $73.38 million. Organigram Global had a net margin of 6.03% and a negative return on equity of 15.41%. On average, analysts forecast that Organigram Global will post 0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC boosted its stake in Organigram Global by 4.9% during the 2nd quarter. Tidal Investments LLC now owns 2,646,879 shares of the company's stock valued at $3,573,000 after acquiring an additional 124,356 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Organigram Global by 43.2% during the 4th quarter. Renaissance Technologies LLC now owns 1,405,348 shares of the company's stock valued at $2,361,000 after acquiring an additional 423,900 shares during the last quarter. AdvisorShares Investments LLC boosted its stake in Organigram Global by 31.2% during the 3rd quarter. AdvisorShares Investments LLC now owns 1,052,394 shares of the company's stock valued at $2,136,000 after acquiring an additional 250,000 shares during the last quarter. Millennium Management LLC bought a new position in shares of Organigram Global in the 4th quarter worth about $1,260,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Organigram Global by 82.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 466,585 shares of the company's stock worth $784,000 after buying an additional 210,391 shares during the last quarter. 34.63% of the stock is currently owned by institutional investors.

Organigram Global Company Profile

Organigram Global Inc NASDAQ: OGI is a licensed producer of cannabis and hemp products headquartered in Moncton, New Brunswick, Canada. Founded in 2013, the company operates a state-of-the-art cultivation and manufacturing facility spanning more than one million square feet. Organigram holds licenses from Health Canada to produce and sell both medical and adult-use cannabis, and it pursues Good Manufacturing Practice (GMP) certification to support international exports.

The company's product portfolio encompasses dried flower, pre-rolled joints, cannabis oils, capsules and soft gels, as well as vapourizer cartridges and extracts.

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