Saturday, April 10, 2021

BMO Capital Markets lifts OrganiGram Holdings Inc. [OGI] price estimate. Who else is bullish?

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OrganiGram Holdings Inc. [NASDAQ: OGI] loss -5.44% on the last trading session, reaching $3.30 price per share at the time. The company report on April 6, 2021 that AgraFlora and Other Owners Agree to Sell Edibles Business for $35 Million to Organigram.

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$22 Million in Shares of Organigram Received at Closing and Up To $13 Million More Receivable Upon Achievement of Certain Earn-Out Milestones.

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AgraFlora Organics International Inc. (“AgraFlora” or the “Company”) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: AGFAF) is pleased to announce that it and its fellow shareholders have entered into an agreement to sell The Edibles & Infusions Corporation (“EIC”), an entity of which AgraFlora owns 43%, to Organigram Holdings Inc. (TSX: OGI and NASDAQ: OGI) (“OGI”), for consideration of $22 million in shares of OGI (the “EIC Transaction”), plus up to an additional $13 million in shares of OGI (the “Additional Consideration”) receivable upon the EIC business achieving certain earn-out milestones (the “Milestones”). The EIC Transaction strongly positions AgraFlora for the future with its net share of up to $35 million in aggregate proceeds as it continues to evolve its competitive strategy within the changing global cannabis industry.

OrganiGram Holdings Inc. represents 293.10 million in outstanding shares, while the company has a total market value of $967.23 million with the latest information. OGI stock price has been found in the range of $3.26 to $3.51.

If compared to the average trading volume of 26.15M shares, OGI reached a trading volume of 11295684 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]:

BMO Capital Markets have made an estimate for OrganiGram Holdings Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on March 10, 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 0.34, with the Price to Sales ratio for OGI stock in the period of the last 12 months amounting to 15.04. The Price to Book ratio for the last quarter was 3.03.

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 -0.30. With this latest performance, OGI shares gained by 23.13% in over the last four-week period, additionally plugging by 220.39% over the last 6 months – not to mention a rise of 103.70% 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 47.00, with the RSI for the last a single of trading hit 41.84, and the three-weeks RSI is set at 49.84 for OrganiGram Holdings Inc. [OGI]. The present Moving Average for the last 50 days of trading for this stock 3.25, while it was recorded at 3.42 for the last single week of trading, and 1.83 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 $113 million, or 18.67% 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 19,672,240, which is approximately 3.474% of the company’s market cap and around 25.25% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 7,428,439 shares of the stock with an approximate value of $24.51 million in OGI stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $5.79 million in OGI stock with ownership of nearly New of the company’s market capitalization.

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Positions in OrganiGram Holdings Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 45 institutional holders increased their position in OrganiGram Holdings Inc. [NASDAQ:OGI] by around 10,422,203 shares. Additionally, 32 investors decreased positions by around 1,399,002 shares, while 42 investors held positions by with 22,306,660 shares. The mentioned changes placed institutional holdings at 34,127,865 shares, according to the latest SEC report filing. OGI stock had 23 new institutional investments in for a total of 2,500,667 shares, while 17 institutional investors sold positions of 745,355 shares during the same period.

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