OrganiGram Holdings Inc (NASDAQ:OGI) – Analysts at Raymond James decreased their Q1 2020 EPS estimates for OrganiGram in a research note issued on Wednesday, January 8th. Raymond James analyst R. Sarugaser now anticipates that the company will post earnings per share of ($0.01) for the quarter, down from their prior forecast of $0.02. Raymond James has a “Market Perform” rating on the stock. Raymond James also issued estimates for OrganiGram’s Q2 2020 earnings at $0.00 EPS, Q3 2020 earnings at $0.02 EPS, Q4 2020 earnings at $0.03 EPS, FY2023 earnings at $0.46 EPS and FY2024 earnings at $0.68 EPS.
Several other analysts have also commented on OGI. BMO Capital Markets lowered OrganiGram from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 12th. CIBC initiated coverage on OrganiGram in a report on Tuesday, September 24th. They issued an “outperformer” rating and a $9.00 price objective on the stock. Paradigm Capital set a $8.50 price objective on OrganiGram and gave the company a “buy” rating in a report on Thursday, October 17th. AltaCorp Capital lowered OrganiGram from an “outperform” rating to a “sector perform” rating in a report on Tuesday, November 26th. Finally, Cantor Fitzgerald initiated coverage on OrganiGram in a report on Tuesday, November 5th. They issued an “overweight” rating and a $17.10 price objective on the stock. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $9.80.
Shares of OGI opened at $2.02 on Friday. The company has a current ratio of 4.47, a quick ratio of 1.88 and a debt-to-equity ratio of 0.14. OrganiGram has a 12 month low of $1.98 and a 12 month high of $8.44. The stock’s 50 day moving average is $2.47 and its two-hundred day moving average is $4.09. The firm has a market cap of $327.98 million and a P/E ratio of 33.67.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in OGI. ETF Managers Group LLC purchased a new position in shares of OrganiGram in the second quarter valued at approximately $44,872,000. Polar Asset Management Partners Inc. purchased a new position in shares of OrganiGram in the second quarter valued at approximately $10,144,000. Ardsley Advisory Partners LP purchased a new position in shares of OrganiGram in the second quarter valued at approximately $6,437,000. River & Mercantile Asset Management LLP purchased a new position in shares of OrganiGram in the second quarter valued at approximately $2,190,000. Finally, Royal Bank of Canada purchased a new position in shares of OrganiGram in the second quarter valued at approximately $2,116,000. Institutional investors and hedge funds own 11.74% of the company’s stock.
OrganiGram Company Profile
OrganiGram Holdings Inc, through its subsidiaries, produces and sells dried cannabis and cannabis oil in Canada. It also offers wholesale shipping of cannabis plant cuttings, dried flowers, blends, pre-rolls, and cannabis oils to retailers and wholesalers. The company also exports its products. It sells its products online, as well as through phone orders.