OrganiGram Holdings Inc. [NASDAQ: OGI] stock went on an upward path that rose over 1.80% on Thursday, amounting to a one-week price decrease of less than -1.74%. The company report on April 12, 2022 that Organigram Reports Second Quarter Fiscal 2022 Results.
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Achieves positive Adjusted EBITDA two quarters earlier than expected driven by record high net revenue for the Company of $31.8 million and a top 3 national market share position among Canadian LPs.
Over the last 12 months, OGI stock dropped by -65.12%. The average equity rating for OGI stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $472.07 million, with 308.36 million shares outstanding and 255.15 million shares in the current float. Compared to the average trading volume of 5.67M shares, OGI stock reached a trading volume of 4615959 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on OrganiGram Holdings Inc. [OGI]:
Canaccord Genuity have made an estimate for OrganiGram Holdings Inc. shares, keeping their opinion on the stock as Speculative Buy, with their previous recommendation back on January 12, 2022. The new note on the price target was released on May 11, 2021, representing the official price target for OrganiGram Holdings Inc. stock.
The Average True Range (ATR) for OrganiGram Holdings Inc. is set at 0.09, with the Price to Sales ratio for OGI stock in the period of the last 12 months amounting to 4.40. The Price to Book ratio for the last quarter was 0.68, with the Price to Cash per share for the same quarter was set at 0.36.
OGI Stock Performance Analysis:
OrganiGram Holdings Inc. [OGI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.74. With this latest performance, OGI shares dropped by -21.53% in over the last four-week period, additionally sinking by -40.53% over the last 6 months – not to mention a drop of -65.12% 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 38.81, with the RSI for the last a single of trading hit 38.22, and the three-weeks RSI is set at 40.00 for OrganiGram Holdings Inc. [OGI]. The present Moving Average for the last 50 days of trading for this stock 1.4324, while it was recorded at 1.1520 for the last single week of trading, and 1.8415 for the last 200 days.
Insight into OrganiGram Holdings Inc. Fundamentals:
OrganiGram Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.80 and a Current Ratio set at 5.00.
OrganiGram Holdings Inc. [OGI] Insider Position Details
There are presently around $52 million, or 17.69% 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 19,152,121, which is approximately 10.019% of the company’s market cap and around 18.66% of the total institutional ownership; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 8,955,548 shares of the stock with an approximate value of $9.94 million in OGI stocks shares; and BANK OF MONTREAL /CAN/, currently with $2.54 million in OGI stock with ownership of nearly -23.339% 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 42 institutional holders increased their position in OrganiGram Holdings Inc. [NASDAQ:OGI] by around 7,897,344 shares. Additionally, 59 investors decreased positions by around 10,610,910 shares, while 51 investors held positions by with 28,290,915 shares. The mentioned changes placed institutional holdings at 46,799,169 shares, according to the latest SEC report filing. OGI stock had 12 new institutional investments in for a total of 409,547 shares, while 28 institutional investors sold positions of 1,347,062 shares during the same period.