Organigram (NASDAQ:OGI) Trading Up 1.5%

Organigram Holdings Inc. (NASDAQ:OGIGet Free Report)’s stock price was up 1.5% during trading on Friday . The stock traded as high as $2.10 and last traded at $2.02. Approximately 717,638 shares traded hands during trading, a decline of 28% from the average daily volume of 1,000,181 shares. The stock had previously closed at $1.99.

Organigram Stock Performance

The firm’s 50 day moving average is $1.83 and its 200 day moving average is $1.50.

Organigram (NASDAQ:OGIGet Free Report) last announced its earnings results on Tuesday, February 13th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). The business had revenue of $26.78 million for the quarter, compared to analysts’ expectations of $28.61 million. Organigram had a negative net margin of 173.48% and a negative return on equity of 30.94%. On average, analysts expect that Organigram Holdings Inc. will post -0.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Organigram

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AXS Investments LLC increased its stake in Organigram by 26.1% in the 4th quarter. AXS Investments LLC now owns 483,586 shares of the company’s stock worth $633,000 after buying an additional 100,140 shares during the period. Formidable Asset Management LLC bought a new position in Organigram during the 4th quarter worth about $182,000. Dimensional Fund Advisors LP grew its holdings in Organigram by 6.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 232,330 shares of the company’s stock worth $304,000 after acquiring an additional 13,203 shares in the last quarter. Canton Hathaway LLC bought a new position in Organigram during the 4th quarter worth about $49,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Organigram by 4.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,163,033 shares of the company’s stock worth $1,517,000 after acquiring an additional 46,071 shares in the last quarter. Hedge funds and other institutional investors own 31.89% of the company’s stock.

About Organigram

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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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