OrganiGram Holdings Inc. [NASDAQ: OGI] loss -5.23% or -0.09 points to close at $1.63 with a heavy trading volume of 14536211 shares. The company report on January 13, 2021 that Why Experts Believe 2021 is Anticipated to be a Strong Year For Cannabis Industry.
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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).
It opened the trading session at $1.75, the shares rose to $1.79 and dropped to $1.61, the range by which the price of stock traded the whole day. The daily chart for OGI points out that the company has recorded 21.64% gains over the past six months. However, it is still -61.39% lower than its most recent low trading price.
If we look at the average trading volume of 10.56M shares, OGI reached to a volume of 14536211 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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
Trading performance analysis for OGI stock
OrganiGram Holdings Inc. [OGI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.44. With this latest performance, OGI shares gained by 18.98% in over the last four-week period, additionally plugging by 21.64% over the last 6 months – not to mention a drop of -40.94% 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 52.25, with the RSI for the last a single of trading hit 47.23, and the three-weeks RSI is set at 54.10 for OrganiGram Holdings Inc. [OGI]. The present Moving Average for the last 50 days of trading for this stock 1.4320, while it was recorded at 1.7440 for the last single week of trading, and 1.4324 for the last 200 days.
OrganiGram Holdings Inc. [OGI]: A deeper dive into fundamental analysis
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.
An analysis of insider ownership at OrganiGram Holdings Inc. [OGI]
There are presently around $40 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 $2.49 million in OGI stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $1.07 million in OGI stock with ownership of nearly 138.185% 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 36 institutional holders increased their position in OrganiGram Holdings Inc. [NASDAQ:OGI] by around 7,669,737 shares. Additionally, 35 investors decreased positions by around 2,864,551 shares, while 41 investors held positions by with 14,117,907 shares. The mentioned changes placed institutional holdings at 24,652,195 shares, according to the latest SEC report filing. OGI stock had 14 new institutional investments in for a total of 188,792 shares, while 14 institutional investors sold positions of 1,819,373 shares during the same period.