During the recent session, OrganiGram Holdings Inc. (NASDAQ:OGI)’s traded shares were 3.14 million, with the beta value of the company hitting 1.22. At the last check today, the stock’s price was $2.38, reflecting an intraday gain of 5.73% or $0.13. The 52-week high for the OGI share is $6.45, that puts it down -171.01 from that peak though still a striking 55.04% gain since the share price plummeted to a 52-week low of $1.07. The company’s market capitalization is $860.11M, and the average intraday trading volume over the past 10 days was 4.07 million shares, and the average trade volume was 5.25 million shares over the past three months.
OrganiGram Holdings Inc. (NASDAQ:OGI) trade information
OrganiGram Holdings Inc. (OGI) registered a 5.73% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 5.73% in intraday trading to $2.38 this Wednesday, 10/13/21, hitting a weekly high. The stock’s 5-day price performance is -2.17%, and it has moved by -6.25% in 30 days. Based on these gigs, the overall price performance for the year is 77.17%. The short interest in OrganiGram Holdings Inc. (NASDAQ:OGI) is 15.95 million shares and it means that shorts have 2.86 day(s) to cover.
The consensus price target of analysts on Wall Street is $3.07, which implies an increase of 22.48% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2.00 and $4.38 respectively. As a result, OGI is trading at a discount of -84.03% off the target high and 15.97% off the low.
OrganiGram Holdings Inc. (OGI) estimates and forecasts
Statistics show that OrganiGram Holdings Inc. has underperformed its competitors in share price, compared to the industry in which it operates. OrganiGram Holdings Inc. (OGI) shares have gone down -9.27% during the last six months, with a year-to-date growth rate less than the industry average at -250.00% against 18.10.
OrganiGram Holdings Inc. is due to release its next quarterly earnings between November 29 and December 03. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
OrganiGram Holdings Inc. (NASDAQ:OGI)’s Major holders
OrganiGram Holdings Inc. insiders own 19.63% of total outstanding shares while institutional holders control 18.11%, with the float percentage being 22.53%. ETF Managers Group, LLC is the largest shareholder of the company, while 180 institutions own stock in it. As of Jun 29, 2021, the company held over 23.58 million shares (or 7.86% of all shares), a total value of $67.44 million in shares.
The next largest institutional holding, with 3.45 million shares, is of Mirae Asset Global Investments Co., Ltd.’s that is approximately 1.15% of outstanding shares. At the market price on Jun 29, 2021, these shares were valued at $9.88 million.
Also, the Mutual Funds coming in first place with the largest holdings of OrganiGram Holdings Inc. (OGI) shares are ETF Managers Tr-EFTMG Alternative Harvest ETF and Global X Fds-The Global X Cannabis ETF. Data provided on Jun 29, 2021 indicates that ETF Managers Tr-EFTMG Alternative Harvest ETF owns about 23.58 million shares. This amounts to just over 7.86 percent of the company’s overall shares, with a $67.44 million market value. The same data shows that the other fund manager holds slightly less at 4.81 million, or about 1.60% of the stock, which is worth about $12.83 million.