OrganiGram Holdings Inc. [OGI] Stock trading around $0.90 per share: What’s Next?

OrganiGram Holdings Inc. [NASDAQ: OGI] stock went on an upward path that rose over 8.39% on Thursday, amounting to a one-week price increase of more than 9.68%. The company report on January 12, 2023 that Organigram Reports Record First Quarter Fiscal 2023 Results.

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Achieves record Adjusted Gross Margin and fourth consecutive quarter of positive Adjusted EBITDA.

Over the last 12 months, OGI stock dropped by -48.28%. 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 $382.39 million, with 313.80 million shares outstanding and 255.27 million shares in the current float. Compared to the average trading volume of 1.14M shares, OGI stock reached a trading volume of 3040629 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 0.05, with the Price to Sales ratio for OGI stock in the period of the last 12 months amounting to 2.62. The Price to Book ratio for the last quarter was 0.56, with the Price to Cash per share for the same quarter was set at 0.23.

OGI Stock Performance Analysis:

OrganiGram Holdings Inc. [OGI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.68. With this latest performance, OGI shares dropped by -3.95% in over the last four-week period, additionally sinking by -14.29% over the last 6 months – not to mention a drop of -48.28% 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 55.72, with the RSI for the last a single of trading hit 64.34, and the three-weeks RSI is set at 51.85 for OrganiGram Holdings Inc. [OGI]. The present Moving Average for the last 50 days of trading for this stock 0.9272, while it was recorded at 0.8364 for the last single week of trading, and 1.0850 for the last 200 days.

Insight into OrganiGram Holdings Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and OrganiGram Holdings Inc. [OGI] shares currently have an operating margin of -54.08 and a Gross Margin at -9.42. OrganiGram Holdings Inc.’s Net Margin is presently recorded at -9.80.

Return on Equity for this stock declined to -2.89, with Return on Assets sitting at -2.53.

OrganiGram Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.80 and a Current Ratio set at 4.00.

OrganiGram Holdings Inc. [OGI] Insider Position Details

There are presently around $31 million, or 13.15% 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 13,461,740, which is approximately -9.731% of the company’s market cap and around 18.65% of the total institutional ownership; D. E. SHAW & CO., INC., holding 2,444,600 shares of the stock with an approximate value of $2.2 million in OGI stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $2.16 million in OGI stock with ownership of nearly -38.457% of the company’s market capitalization.

Positions in OrganiGram Holdings Inc. stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 38 institutional holders increased their position in OrganiGram Holdings Inc. [NASDAQ:OGI] by around 2,403,142 shares. Additionally, 52 investors decreased positions by around 5,063,264 shares, while 53 investors held positions by with 27,013,179 shares. The mentioned changes placed institutional holdings at 34,479,585 shares, according to the latest SEC report filing. OGI stock had 11 new institutional investments in for a total of 108,437 shares, while 27 institutional investors sold positions of 960,256 shares during the same period.


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