During the last session, Organigram Holdings Inc. (NASDAQ:OGI)’s traded shares were 1.7 million, with the beta value of the company hitting 1.30. At the end of the trading day, the stock’s price was $0.44, reflecting an intraday loss of -1.01% or -$0.01. The 52-week high for the OGI share is $1.27, that puts it down -188.64 from that peak though still a striking 2.27% gain since the share price plummeted to a 52-week low of $0.43. The company’s market capitalization is $187.33M, and the average intraday trading volume over the past 10 days was 1.52 million shares, and the average trade volume was 919.36K shares over the past three months.
Organigram Holdings Inc. (OGI) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.00. OGI has a Sell rating from 0 analyst(s) out of 10 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.01.
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Organigram Holdings Inc. (NASDAQ:OGI) trade information
Organigram Holdings Inc. (OGI) registered a -1.01% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.01% in intraday trading to $0.44 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -9.43%, and it has moved by -12.05% in 30 days. Based on these gigs, the overall price performance for the year is -61.14%. The short interest in Organigram Holdings Inc. (NASDAQ:OGI) is 8.75 million shares and it means that shorts have 12.92 day(s) to cover.
The consensus price target of analysts on Wall Street is $1.07, which implies an increase of 58.88% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $0.74 and $1.67 respectively. As a result, OGI is trading at a discount of -279.55% off the target high and -68.18% 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 -55.70% during the last six months, with a year-to-date growth rate less than the industry average at 0.00% against 17.40. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 85.70% this quarter and then jump 50.00% in the quarter after that. In the rating firms’ projections, revenue will increase 15.40% compared to the previous financial year.
Revenue for the current quarter is expected to be $31.27 million as predicted by 8 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to $33.69 million by the end of Aug 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $28.59 million and $34.18 million respectively. In this case, analysts expect current quarter sales to grow by 9.40% and then drop by -1.40% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 16.10%. While earnings are projected to return 90.90% in 2023.
Organigram Holdings Inc. is due to release its next quarterly earnings between July 12 and July 17. 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 19.49% of total outstanding shares while institutional holders control 10.81%, with the float percentage being 13.42%. ETF Managers Group, LLC is the largest shareholder of the company, while 146 institutions own stock in it. As of Mar 30, 2023, the company held over 7.35 million shares (or 2.34% of all shares), a total value of $4.71 million in shares.
The next largest institutional holding, with 2.65 million shares, is of Mirae Asset Global Investments Co., Ltd.’s that is approximately 0.84% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $1.7 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 Dec 30, 2022 indicates that ETF Managers Tr-EFTMG Alternative Harvest ETF owns about 14.16 million shares. This amounts to just over 4.51 percent of the company’s overall shares, with a $11.33 million market value. The same data shows that the other fund manager holds slightly less at 2.66 million, or about 0.85% of the stock, which is worth about $1.7 million.