Organigram Global (NASDAQ:OGI) Stock Price Down 2% - Should You Sell?

Key Points

• Stock action: Organigram (NASDAQ: OGI) slipped about 2% to $1.44 midday (intraday low $1.41) on volume of ~540,739 shares (down ~33% vs. average), with the 50‑ and 200‑day SMAs at $1.53 and $1.65 and a market cap of ~$196.3M.
• Earnings miss: The company reported EPS of -$0.02 vs. a -$0.01 consensus and revenue of $46.27M vs. $73.38M expected, and sell‑side analysts project about -$0.19 EPS for the current year.
• Mixed sentiment: Analyst coverage is split (two Buy, one Sell) producing a consensus "Hold," while institutional investors own ~34.6% of the stock with recent new stakes from firms like Millennium, Virtu and Lazard.

Organigram Global Inc. (NASDAQ:OGI - Get Free Report)'s share price was down 2% during mid-day trading on Monday . The stock traded as low as $1.41 and last traded at $1.44. Approximately 540,739 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 806,129 shares. The stock had previously closed at $1.47.

Analysts Set New Price Targets

A number of research firms have recently commented on OGI. Wall Street Zen raised shares of Organigram Global from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Canaccord Genuity Group started coverage on shares of Organigram Global in a research note on Tuesday, January 27th. They issued a "buy" rating on the stock. ATB Cormark Capital Markets lowered shares of Organigram Global from a "strong-buy" rating to a "moderate buy" rating in a research report on Wednesday, February 11th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Organigram Global in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold".

Organigram Global Stock Down 2.0%

The business has a 50-day simple moving average of $1.53 and a two-hundred day simple moving average of $1.65. The stock has a market capitalization of $196.32 million, a P/E ratio of 10.29 and a beta of 1.51.

Organigram Global (NASDAQ:OGI - Get Free Report) last posted its earnings results on Tuesday, February 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). Organigram Global had a net margin of 6.03% and a negative return on equity of 15.41%. The firm had revenue of $46.27 million during the quarter, compared to the consensus estimate of $73.38 million. On average, sell-side analysts forecast that Organigram Global Inc. will post -0.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OGI. Virtu Financial LLC acquired a new position in Organigram Global during the 4th quarter worth $188,000. Millennium Management LLC bought a new position in Organigram Global in the 4th quarter valued at $1,260,000. Lazard Asset Management LLC acquired a new stake in shares of Organigram Global in the 4th quarter valued at $280,000. Walleye Capital LLC bought a new stake in shares of Organigram Global during the fourth quarter worth $25,000. Finally, HRT Financial LP bought a new stake in shares of Organigram Global during the fourth quarter worth $52,000. Institutional investors own 34.63% of the company's stock.

About Organigram Global

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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