Organigram Global (NASDAQ:OGI) Given "Sell (D)" Rating at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "Sell (D)" rating for Organigram Global (NASDAQ:OGI), indicating ongoing concerns about the company's stock performance.
• The company's recent earnings report showed a loss of ($0.03) EPS, missing estimates and reflecting challenges in revenue generation.
• Institutional investors have shown interest, with several firms increasing their stakes in Organigram Global during the second quarter, despite its struggles.

Organigram Global (NASDAQ:OGI - Get Free Report)'s stock had its "sell (d)" rating reiterated by analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen downgraded Organigram Global from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of "Sell".

Organigram Global Stock Down 1.0%

Shares of NASDAQ OGI opened at $1.94 on Wednesday. Organigram Global has a fifty-two week low of $0.85 and a fifty-two week high of $2.08. The business has a 50 day moving average price of $1.67 and a two-hundred day moving average price of $1.40. The firm has a market cap of $260.62 million, a PE ratio of 38.81 and a beta of 1.48.

Organigram Global (NASDAQ:OGI - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The firm had revenue of $50.49 million during the quarter, compared to analyst estimates of $68.04 million. Organigram Global had a negative return on equity of 8.19% and a net margin of 2.86%. On average, analysts anticipate that Organigram Global will post -0.19 earnings per share for the current year.

Hedge Funds Weigh In On Organigram Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC raised its holdings in shares of Organigram Global by 4.9% in the 2nd quarter. Tidal Investments LLC now owns 2,646,879 shares of the company's stock worth $3,573,000 after buying an additional 124,356 shares in the last quarter. Cidel Asset Management Inc. raised its holdings in shares of Organigram Global by 112.3% in the 2nd quarter. Cidel Asset Management Inc. now owns 37,103 shares of the company's stock worth $50,000 after buying an additional 19,627 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Organigram Global by 140.5% in the 2nd quarter. Vontobel Holding Ltd. now owns 69,753 shares of the company's stock worth $94,000 after buying an additional 40,753 shares in the last quarter. Clear Harbor Asset Management LLC acquired a new position in shares of Organigram Global in the 2nd quarter worth approximately $54,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of Organigram Global in the 2nd quarter worth approximately $338,000. 34.63% of the stock is currently owned by institutional investors.

About Organigram Global

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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