Organigram Holdings Inc. (NASDAQ:OGI) Short Interest Update

Organigram Holdings Inc. (NASDAQ:OGI) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 5,400,000 shares, a growth of 25.6% from the February 13th total of 4,300,000 shares. Based on an average daily trading volume, of 991,800 shares, the days-to-cover ratio is presently 5.4 days. Currently, 6.5% of the company’s stock are sold short.

Institutional Trading of Organigram

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC lifted its position in shares of Organigram by 8.3% in the third quarter. Tidal Investments LLC now owns 1,948,188 shares of the company’s stock worth $3,526,000 after buying an additional 149,171 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Organigram by 2.4% in the fourth quarter. Renaissance Technologies LLC now owns 914,648 shares of the company’s stock worth $1,473,000 after buying an additional 21,200 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Organigram in the fourth quarter worth about $1,153,000. Dimensional Fund Advisors LP lifted its position in shares of Organigram by 13.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 359,739 shares of the company’s stock worth $579,000 after buying an additional 43,721 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Organigram by 210.7% in the fourth quarter. Cubist Systematic Strategies LLC now owns 45,095 shares of the company’s stock worth $73,000 after buying an additional 30,583 shares during the last quarter. Institutional investors and hedge funds own 34.63% of the company’s stock.

Organigram Stock Performance

Shares of OGI stock traded up $0.04 on Monday, reaching $1.07. 393,012 shares of the company’s stock traded hands, compared to its average volume of 935,381. Organigram has a 12-month low of $0.96 and a 12-month high of $2.91. The company has a market capitalization of $135.05 million, a P/E ratio of -2.82 and a beta of 1.01. The business’s 50 day moving average price is $1.39 and its two-hundred day moving average price is $1.57.

Organigram (NASDAQ:OGI) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Organigram had a negative net margin of 31.69% and a negative return on equity of 8.59%. Research analysts predict that Organigram will post -0.19 earnings per share for the current year.

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.