Organigram FY2024 EPS Boosted by Alliance Global Partners

Organigram Holdings Inc. (NASDAQ:OGI) – Research analysts at Alliance Global Partners raised their FY2024 earnings per share (EPS) estimates for Organigram in a report issued on Monday, December 9th. Alliance Global Partners analyst A. Grey now forecasts that the company will post earnings of ($0.18) per share for the year, up from their prior estimate of ($0.19). The consensus estimate for Organigram’s current full-year earnings is ($0.21) per share. Alliance Global Partners also issued estimates for Organigram’s Q4 2024 earnings at ($0.02) EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at ($0.01) EPS, Q4 2025 earnings at ($0.01) EPS and FY2025 earnings at ($0.02) EPS.

Organigram Price Performance

Shares of NASDAQ:OGI opened at $1.51 on Wednesday. The business’s 50 day moving average price is $1.64 and its 200-day moving average price is $1.68. Organigram has a 1 year low of $1.20 and a 1 year high of $2.91. The firm has a market capitalization of $164.46 million, a price-to-earnings ratio of -3.60 and a beta of 1.02.

Institutional Trading of Organigram

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew its holdings in shares of Organigram by 40.8% during the 2nd quarter. Renaissance Technologies LLC now owns 816,948 shares of the company’s stock worth $1,258,000 after purchasing an additional 236,700 shares during the period. Tidal Investments LLC grew its holdings in shares of Organigram by 8.3% during the 3rd quarter. Tidal Investments LLC now owns 1,948,188 shares of the company’s stock worth $3,526,000 after purchasing an additional 149,171 shares during the period. AdvisorShares Investments LLC grew its holdings in shares of Organigram by 11.8% during the 2nd quarter. AdvisorShares Investments LLC now owns 1,000,126 shares of the company’s stock worth $1,540,000 after purchasing an additional 105,468 shares during the period. Baader Bank Aktiengesellschaft grew its holdings in shares of Organigram by 26.4% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 252,852 shares of the company’s stock worth $388,000 after purchasing an additional 52,852 shares during the period. Finally, Clear Harbor Asset Management LLC purchased a new position in Organigram during the 2nd quarter valued at about $51,000. 34.63% of the stock is owned by institutional investors and hedge funds.

Organigram 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.