OrganiGram Holdings Inc. [NASDAQ: OGI] closed the trading session at $2.75 on 05/07/21. The day’s price range saw the stock hit a low of $2.45, while the highest price level was $2.80. The company report on May 3, 2021 that Organigram CEO Steps Away From Role, Will Continue to Act as a Special Advisor to the Board of Directors; Interim Leadership Appointed.
The Board of Directors (the “Board”) of Organigram Holdings Inc. (“Organigram” or the “Company”) (TSX: OGI) (NASDAQ: OGI) has confirmed that Greg Engel is stepping away from his role as CEO effective, however he will continue to act as a special advisor to the Board through a transition period. The Board is grateful for the contributions Greg has made since joining the Company in 2017.
Peter Amirault, current Board chairman, has been appointed by the Board to serve as executive chair on an interim basis, to oversee day-to-day management of the Company until a new permanent CEO is appointed. During this period, Geoff Machum, chair of the Board’s Governance and Nominating Committee, will serve as the independent lead director.
The stocks have a year to date performance of 106.77 percent and weekly performance of 3.58 percent. The stock has been moved at 121.77 percent over the last six months. The stock has performed -12.70 percent around the most recent 30 days and changed 17.52 percent over the most recent 3-months.
If compared to the average trading volume of 22.62M shares, OGI reached to a volume of 12068083 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]:
CIBC have made an estimate for OrganiGram Holdings Inc. shares, keeping their opinion on the stock as Sector Underperform, with their previous recommendation back on April 14, 2021. The new note on the price target was released on April 08, 2021, representing the official price target for OrganiGram Holdings Inc. stock.
The Average True Range (ATR) for OrganiGram Holdings Inc. is set at 0.23, with the Price to Sales ratio for OGI stock in the period of the last 12 months amounting to 11.33. The Price to Book ratio for the last quarter was 2.42.
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 3.58. With this latest performance, OGI shares dropped by -12.70% in over the last four-week period, additionally plugging by 121.77% over the last 6 months – not to mention a rise of 87.07% 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 48.91, with the RSI for the last a single of trading hit 52.70, and the three-weeks RSI is set at 48.23 for OrganiGram Holdings Inc. [OGI]. The present Moving Average for the last 50 days of trading for this stock 3.12, while it was recorded at 2.58 for the last single week of trading, and 1.95 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 $84 million, or 15.14% 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 19.66% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 7,428,439 shares of the stock with an approximate value of $18.12 million in OGI stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $4.28 million in OGI stock with ownership of nearly New of the company’s market capitalization.
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 60 institutional holders increased their position in OrganiGram Holdings Inc. [NASDAQ:OGI] by around 10,837,577 shares. Additionally, 27 investors decreased positions by around 1,523,256 shares, while 37 investors held positions by with 22,199,194 shares. The mentioned changes placed institutional holdings at 34,560,027 shares, according to the latest SEC report filing. OGI stock had 30 new institutional investments in for a total of 2,982,472 shares, while 11 institutional investors sold positions of 779,050 shares during the same period.