Organigram Global (NASDAQ:OGI) Trading Down 0.7% - Should You Sell?

Key Points

• Stock slipped 0.7% to $1.37 on Tuesday with 431,223 shares traded (slightly below average); the 50-day and 200-day moving averages are $1.41 and $1.61, respectively, and market cap is about $187M.
• Quarterly results disappointed: EPS of ($0.02) missed the ($0.01) estimate and revenue was $46.27M versus $73.38M expected, and analysts forecast -$0.19 EPS for the fiscal year.
• Analyst ratings are mixed but consensus is "Hold": two Buy ratings and one Sell remain, alongside recent upgrades and downgrades (e.g., Wall Street Zen to Hold, Canaccord initiated Buy, Weiss reaffirmed Sell).

Organigram Global Inc. (NASDAQ:OGI - Get Free Report)'s share price fell 0.7% during mid-day trading on Tuesday . The company traded as low as $1.35 and last traded at $1.37. 431,223 shares were traded during trading, a decline of 2% from the average session volume of 440,877 shares. The stock had previously closed at $1.38.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports 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. ATB Cormark Capital Markets lowered shares of Organigram Global from a "strong-buy" rating to a "moderate buy" rating in a report on Wednesday, February 11th. Canaccord Genuity Group began coverage on shares of Organigram Global in a report on Tuesday, January 27th. They set a "buy" rating for the company. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Organigram Global in a report 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 presently has a consensus rating of "Hold".

Organigram Global Stock Performance

The firm's 50-day moving average price is $1.41 and its two-hundred day moving average price is $1.61. The stock has a market cap of $186.79 million, a price-to-earnings ratio of 9.79 and a beta of 1.45.

Organigram Global (NASDAQ:OGI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate 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%. As a group, sell-side analysts expect that Organigram Global Inc. will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Walleye Capital LLC acquired a new position in Organigram Global in the fourth quarter valued at about $25,000. AXQ Capital LP acquired a new position in Organigram Global in the fourth quarter valued at about $27,000. StoneX Group Inc. acquired a new position in Organigram Global in the fourth quarter valued at about $30,000. PFS Partners LLC lifted its position in Organigram Global by 31.6% in the third quarter. PFS Partners LLC now owns 25,000 shares of the company's stock valued at $51,000 after buying an additional 6,000 shares during the last quarter. Finally, HRT Financial LP acquired a new position in Organigram Global in the fourth quarter valued at about $52,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.