OrganiGram Holdings Inc. [OGI] Is Currently -6.01 below its 200 Period Moving Avg: What Does This Mean?


OrganiGram Holdings Inc. [NASDAQ: OGI] traded at a low on 01/04/22, posting a -6.01 loss after which it closed the day’ session at $1.72. The company report on December 22, 2021 that Organigram Makes Additional $2.5 Million Investment in Hyasynth Biologicals, a Leading Cannabinoid Biosynthesis Company.

With growing interest in sustainable and bio-based cannabinoids, and after completing a strategic review of Hyasynth including their intellectual property (IP) and R&D platforms, Organigram remains excited about Hyasynth’s future and growth plans.

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As an early investor in biosynthesis, Organigram Holdings Inc. (NASDAQ: OGI), (TSX: OGI), the parent company of Organigram Inc. (the “Company” or “Organigram”), a leading licensed producer of cannabis, and Hyasynth Biologicals Inc. (“Hyasynth”) a private biotechnology company and pioneer in the field of cannabinoid science and biosynthesis are pleased to announce that Organigram has acquired an additional $2.5 million of secured convertible debentures in Hyasynth (the “Debentures”). Additionally, the parties have amended certain of the Debentures’ terms purchased by Organigram from Hyasynth in previous tranches. Proceeds of the investment are designated to advance Hyasynth’s production scalability as well as investment into new cannabinoid technologies (including rare cannabinoids), business development efforts and company growth.

The results of the trading session contributed to over 6003075 shares changing hands. Over the past one week, the price volatility of OrganiGram Holdings Inc. stands at 5.95% while the volatility over the past one month is 6.52%.

The market cap for OGI stock reached $672.57 million, with 299.24 million shares outstanding and 239.88 million shares in the current float. Compared to the average trading volume of 7.33M shares, OGI reached a trading volume of 6003075 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about OrganiGram Holdings Inc. [OGI]?

CIBC have made an estimate for OrganiGram Holdings Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 11, 2021. The new note on the price target was released on April 14, 2021, representing the official price target for OrganiGram Holdings Inc. stock.

The Average True Range (ATR) for OrganiGram Holdings Inc. is set at 0.13, with the Price to Sales ratio for OGI stock in the period of the last 12 months amounting to 8.49. The Price to Book ratio for the last quarter was 1.08, with the Price to Cash per share for the same quarter was set at 0.47.

How has OGI stock performed recently?

OrganiGram Holdings Inc. [OGI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.03. With this latest performance, OGI shares dropped by -5.49% in over the last four-week period, additionally sinking by -33.85% over the last 6 months – not to mention a rise of 10.97% 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 38.94, with the RSI for the last a single of trading hit 36.45, and the three-weeks RSI is set at 40.35 for OrganiGram Holdings Inc. [OGI]. The present Moving Average for the last 50 days of trading for this stock 2.0563, while it was recorded at 1.7720 for the last single week of trading, and 2.5355 for the last 200 days.

OrganiGram Holdings Inc. [OGI]: Deeper insight into the fundamentals

OrganiGram Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.10 and a Current Ratio set at 9.90.

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Insider trade positions for OrganiGram Holdings Inc. [OGI]

There are presently around $80 million, or 18.11% 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 26,338,475, which is approximately 11.704% of the company’s market cap and around 19.63% of the total institutional ownership; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 4,857,318 shares of the stock with an approximate value of $8.89 million in OGI stocks shares; and D. E. SHAW & CO., INC., currently with $2.04 million in OGI stock with ownership of nearly 203.933% of the company’s market capitalization.

43 institutional holders increased their position in OrganiGram Holdings Inc. [NASDAQ:OGI] by around 7,445,261 shares. Additionally, 53 investors decreased positions by around 4,792,328 shares, while 54 investors held positions by with 31,531,654 shares. The mentioned changes placed institutional holdings at 43,769,243 shares, according to the latest SEC report filing. OGI stock had 12 new institutional investments in for a total of 948,519 shares, while 21 institutional investors sold positions of 1,270,324 shares during the same period.