OrganiGram Holdings Inc. [NASDAQ: OGI] plunged by $0.0 during the normal trading session on Friday and reaching a high of $2.00 during the day while it closed the day at $1.80. The company report on January 13, 2021 that Why Experts Believe 2021 is Anticipated to be a Strong Year For Cannabis Industry.
Financialnewsmedia.com News Commentary.
January 13, 2021 – It’s that time of the year when various articles and reports look back on the U.S. and Canadian 2020 cannabis markets’ performance. Many agree that while both markets performed well in toto they say that the cannabis industry had a strong year with the U.S. markets significantly outperforming Canadian peers. The cannabis sector just finished a strong 2020 with the U.S. market soaring while many Canadian stocks struggled. An recent article said: “Looking into 2021, we think the theme will continue to play out as the world’s two largest cannabis markets face divergent outlooks. More importantly, within each market, there are certain companies positioned better to thrive and some will continue to struggle.” The article continued: “We expect the U.S. cannabis sector and U.S.-focused ETFs to outperform again in 2021 due to several reasons. First of all, the size of the prize in Canada is too small. The Canadian adult-use market reached US$2.5B in October 2020 which is smaller than California’s legal market in 2019 estimated at $2.8B. The California market is expected to reach $4B in 2020. While the Canadian market has also doubled its monthly sales during the pandemic, so did the U.S. markets. All in all, the U.S. is a much larger market and it is estimated to be almost 10x the size of the Canadian market.” Active Companies active in the cannabis related markets include: Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), Item 9 Labs Corp. (OTCQX: INLB), Jushi Holdings Inc (OTCQB: JUSHF) (CSE: JUSH), KushCo Holdings, Inc. (OTCQX: KSHB), Aphria Inc. (NASDAQ: APHA) (TSX: APHA).
OrganiGram Holdings Inc. stock has also gained 5.88% of its value over the past 7 days. However, OGI stock has inclined by 51.26% in the 3 months of the year. Over the past six months meanwhile, it has gained 15.38% and gained 35.34% year-on date.
The market cap for OGI stock reached $417.80 million, with 232.11 million shares outstanding and 231.77 million shares in the current float. Compared to the average trading volume of 9.73M shares, OGI reached a trading volume of 21092228 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about OrganiGram Holdings Inc. [OGI]:
Canaccord Genuity have made an estimate for OrganiGram Holdings Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 13, 2021. The new note on the price target was released on January 13, 2021, representing the official price target for OrganiGram Holdings Inc. stock.
The Average True Range (ATR) for OrganiGram Holdings Inc. is set at 0.14
OGI stock trade performance evaluation
OrganiGram Holdings Inc. [OGI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.88. With this latest performance, OGI shares gained by 26.76% in over the last four-week period, additionally plugging by 15.38% over the last 6 months – not to mention a drop of -47.06% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OGI stock in for the last two-week period is set at 65.50, with the RSI for the last a single of trading hit 67.88, and the three-weeks RSI is set at 63.30 for OrganiGram Holdings Inc. [OGI]. The present Moving Average for the last 50 days of trading for this stock 1.4000, while it was recorded at 1.7200 for the last single week of trading, and 1.4323 for the last 200 days.
OrganiGram Holdings Inc. [OGI]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and OrganiGram Holdings Inc. [OGI] shares currently have an operating margin of -207.06 and a Gross Margin at -152.05. OrganiGram Holdings Inc.’s Net Margin is presently recorded at -156.87.
Return on Total Capital for OGI is now -45.21, given the latest momentum, and Return on Invested Capital for the company is -34.96. Return on Equity for this stock declined to -43.46, with Return on Assets sitting at -31.53. When it comes to the capital structure of this company, OrganiGram Holdings Inc. [OGI] has a Total Debt to Total Equity ratio set at 39.72. Additionally, OGI Total Debt to Total Capital is recorded at 28.43, with Total Debt to Total Assets ending up at 27.34. Long-Term Debt to Equity for the company is recorded at 35.49, with the Long-Term Debt to Total Capital now at 25.40.
Reflecting on the efficiency of the workforce at the company, OrganiGram Holdings Inc. [OGI] managed to generate an average of -$231,560 per employee. Receivables Turnover for the company is 5.04 with a Total Asset Turnover recorded at a value of 0.20.
OrganiGram Holdings Inc. [OGI]: Insider Ownership positions
There are presently around $45 million, or 15.30% of OGI stock, in the hands of institutional investors. The top three institutional holders of OGI stocks are: ETF MANAGERS GROUP, LLC with ownership of 19,011,805, which is approximately 57.392% of the company’s market cap and around 0.11% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 1,529,087 shares of the stock with an approximate value of $2.75 million in OGI stocks shares; and ADVISORSHARES INVESTMENTS LLC, currently with $1.37 million in OGI stock with ownership of nearly -37.834% of the company’s market capitalization.
Positions in OrganiGram Holdings Inc. stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 33 institutional holders increased their position in OrganiGram Holdings Inc. [NASDAQ:OGI] by around 7,652,928 shares. Additionally, 37 investors decreased positions by around 2,879,704 shares, while 40 investors held positions by with 14,563,792 shares. The mentioned changes placed institutional holdings at 25,096,424 shares, according to the latest SEC report filing. OGI stock had 11 new institutional investments in for a total of 171,983 shares, while 15 institutional investors sold positions of 1,833,048 shares during the same period.