Canaccord Genuity slashes price target on OrganiGram Holdings Inc. [OGI] – find out why.


OrganiGram Holdings Inc. [NASDAQ: OGI] closed the trading session at $1.16 on 07/20/22. The day’s price range saw the stock hit a low of $1.065, while the highest price level was $1.20. The company report on July 14, 2022 that Organigram Reports Third Quarter Fiscal 2022 Results.

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Achieves fourth consecutive quarter of record net revenue and continues growth as a leading Canadian LP in recreational adult use market share.

The stocks have a year to date performance of -33.71 percent and weekly performance of 7.41 percent. The stock has been moved at -25.16 percent over the last six months. The stock has performed 23.25 percent around the most recent 30 days and changed -27.50 percent over the most recent 3-months.

If compared to the average trading volume of 3.94M shares, OGI reached to a volume of 6094551 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]:

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 0.07, with the Price to Sales ratio for OGI stock in the period of the last 12 months amounting to 4.69. The Price to Book ratio for the last quarter was 0.71, with the Price to Cash per share for the same quarter was set at 0.29.

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 7.41. With this latest performance, OGI shares gained by 23.25% in over the last four-week period, additionally sinking by -25.16% over the last 6 months – not to mention a drop of -54.86% 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 60.25, with the RSI for the last a single of trading hit 67.86, and the three-weeks RSI is set at 54.87 for OrganiGram Holdings Inc. [OGI]. The present Moving Average for the last 50 days of trading for this stock 1.0844, while it was recorded at 1.0730 for the last single week of trading, and 1.6088 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 -142.38 and a Gross Margin at -79.25. OrganiGram Holdings Inc.’s Net Margin is presently recorded at -165.11.

Return on Equity for this stock declined to -33.54, with Return on Assets sitting at -26.43.

OrganiGram Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.10 and a Current Ratio set at 4.20.

OrganiGram Holdings Inc. [OGI]: Insider Ownership positions

There are presently around $54 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 $10.39 million in OGI stocks shares; and BANK OF MONTREAL /CAN/, currently with $2.65 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 July and at the time of the July reporting period, where 44 institutional holders increased their position in OrganiGram Holdings Inc. [NASDAQ:OGI] by around 8,006,283 shares. Additionally, 59 investors decreased positions by around 10,483,343 shares, while 48 investors held positions by with 28,432,017 shares. The mentioned changes placed institutional holdings at 46,921,643 shares, according to the latest SEC report filing. OGI stock had 13 new institutional investments in for a total of 428,965 shares, while 25 institutional investors sold positions of 1,327,322 shares during the same period.