OrganiGram (NASDAQ:OGI) Posts Earnings Results


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OrganiGram (NASDAQ:OGI) issued its earnings results on Monday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.11), Fidelity Earnings reports. The business had revenue of $14.69 million for the quarter, compared to analysts’ expectations of $16.02 million. OrganiGram had a negative return on equity of 4.15% and a negative net margin of 153.92%.

Shares of OrganiGram stock traded up $0.08 on Wednesday, reaching $1.66. The company had a trading volume of 522,220 shares, compared to its average volume of 15,573,334. The firm’s 50 day moving average price is $1.43 and its two-hundred day moving average price is $1.32. The firm has a market cap of $384.11 million, a PE ratio of -2.92 and a beta of 0.30. OrganiGram has a 52-week low of $1.01 and a 52-week high of $3.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.39 and a current ratio of 5.85.

OGI has been the topic of a number of recent research reports. Canaccord Genuity lowered shares of OrganiGram from a “buy” rating to a “hold” rating and lowered their price target for the stock from $2.50 to $2.00 in a research report on Tuesday. Cantor Fitzgerald reduced their target price on shares of OrganiGram from $5.35 to $3.00 and set an “overweight” rating on the stock in a research note on Friday, December 4th. CIBC lifted their target price on shares of OrganiGram from $2.00 to $2.25 and gave the stock a “neutral” rating in a research note on Tuesday, December 1st. BidaskClub raised shares of OrganiGram from a “sell” rating to a “hold” rating in a research note on Tuesday, November 10th. Finally, Alliance Global Partners downgraded shares of OrganiGram from a “buy” rating to a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $2.56.

About OrganiGram

Organigram Holdings Inc, through its subsidiaries, produces and sells cannabis and cannabis-derived products in Canada. It offers cannabis flowers, extracts, edibles and oils, beverages, and other cannabis products for adult recreational market under the Edison Reserve, Edison Cannabis Co, ANKR Organics, and Trailblazer brands; and medical cannabis products, including strains, cannabis oils, extracts, edibles, beverages, and vaporizers for the medical market.

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Earnings History for OrganiGram (NASDAQ:OGI)

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