Organigram Global (NASDAQ:OGI) Trading Up 3.8% - Should You Buy?

Key Points

• Organigram Global Inc. (NASDAQ:OGI) shares increased by 3.8% to $1.38 after closing at $1.33, despite a significant decline in trading volume.
• Institutional investors currently hold 34.63% of Organigram’s stock, with notable increases in stakes from firms like Renaissance Technologies and Dimensional Fund Advisors.
• Organigram produces a variety of cannabis products for both medical and recreational markets, offering numerous brands under its portfolio.

Organigram Global Inc. (NASDAQ:OGI - ) shares were up 3.8% on Monday . The stock traded as high as $1.39 and last traded at $1.38. Approximately 299,040 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 618,505 shares. The stock had previously closed at $1.33.

Organigram Global Stock Performance

The company's 50-day moving average is $1.40 and its 200-day moving average is $1.27. The firm has a market cap of $184.96 million, a price-to-earnings ratio of 13.80 and a beta of 1.45.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its position in Organigram Global by 2.4% during the 4th quarter. Renaissance Technologies LLC now owns 914,648 shares of the company's stock valued at $1,473,000 after purchasing an additional 21,200 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Organigram Global in the 4th quarter valued at about $1,153,000. Dimensional Fund Advisors LP increased its stake in shares of Organigram Global by 13.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 359,739 shares of the company's stock valued at $579,000 after acquiring an additional 43,721 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new stake in shares of Organigram Global in the 2nd quarter valued at about $338,000. Finally, Vontobel Holding Ltd. increased its stake 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 valued at $94,000 after acquiring an additional 40,753 shares during the last quarter. 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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