Organigram Global's (OGI) Sell (D) Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings reiterated a "sell (d)" rating for Organigram Global (OGI), signaling ongoing concerns about the company's stock performance.
• Organigram Global reported a quarterly loss of ($0.03) earnings per share, falling short of the consensus estimate and generating lower than expected revenue of $50.49 million.
• Institutional investors have recently increased their holdings in Organigram, with notable increases from firms like PFS Partners LLC and Cidel Asset Management.

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

Separately, Wall Street Zen lowered shares of Organigram Global from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of "Sell".

Organigram Global Stock Performance

Shares of OGI opened at $1.75 on Friday. The firm has a market cap of $235.31 million, a PE ratio of 35.01 and a beta of 1.48. The firm's 50 day moving average price is $1.76 and its 200 day moving average price is $1.47. Organigram Global has a twelve month low of $0.85 and a twelve month high of $2.08.

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

Hedge Funds Weigh In On Organigram Global

Institutional investors have recently modified their holdings of the company. PFS Partners LLC raised its position in shares of 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 purchasing an additional 6,000 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Organigram Global in the first quarter worth $30,000. Cidel Asset Management Inc. grew its stake in shares of Organigram Global by 112.3% in the second quarter. Cidel Asset Management Inc. now owns 37,103 shares of the company's stock worth $50,000 after acquiring an additional 19,627 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new stake in shares of Organigram Global in the second quarter worth $54,000. Finally, Vontobel Holding Ltd. grew its stake in shares of Organigram Global by 140.5% in the second quarter. Vontobel Holding Ltd. now owns 69,753 shares of the company's stock worth $94,000 after acquiring an additional 40,753 shares during the last quarter. Institutional investors own 34.63% of the company's stock.

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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