OrganiGram Holdings Inc. [NASDAQ: OGI] closed the trading session at $2.30. The company report on March 27, 2024 at 8:56 AM that Organigram Announces Pricing of Overnight Marketed Public Offering.
Organigram Holdings Inc. (“Organigram” or the “Company”) (TSX: OGI; NASDAQ: OGI), announces today that, in connection with its previously announced overnight marketed public offering of units of the Company (the “Units”), it has entered into an underwriting agreement with ATB Securities Inc., as lead underwriter, on behalf of itself and a syndicate of underwriters to sell 7,740,000 Units at a price of C$3.23 per Unit (the “Offering Price”) for total gross proceeds of approximately C$25 million (the “Offering”).
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The Company has granted the underwriters an over-allotment option exercisable, in whole or in part, to purchase up to an additional 1,161,000 Units at the Offering Price for up to 30 days following the closing of the Offering, for market stabilization purposes and to cover any over-allotments.
The stocks have a year to date performance of 75.19 percent and weekly performance of -5.17 percent. The stock has been moved at 60.49 percent over the last six months. The stock has performed 6.25 percent around the most recent 30 days and changed 66.30 percent over the most recent 3-months.
If compared to the average trading volume of 1.04M shares, OGI reached to a volume of 8575994 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]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OGI shares is $2.55 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OGI stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Stifel have made an estimate for OrganiGram Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 13, 2023. The new note on the price target was released on January 12, 2022, representing the official price target for OrganiGram Holdings Inc. stock.
The Average True Range (ATR) for OrganiGram Holdings Inc. is set at 0.22, with the Price to Sales ratio for OGI stock in the period of the last 12 months amounting to 1.89. The Price to Book ratio for the last quarter was 0.95, with the Price to Cash per share for the same quarter was set at 0.34.
OGI stock trade performance evaluation
OrganiGram Holdings Inc. [OGI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.17. With this latest performance, OGI shares gained by 6.25% in over the last four-week period, additionally plugging by 60.49% over the last 6 months – not to mention a drop of -10.91% 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 53.33, with the RSI for the last a single of trading hit 50.66, and the three-weeks RSI is set at 54.59 for OrganiGram Holdings Inc. [OGI]. The present Moving Average for the last 50 days of trading for this stock 2.02, while it was recorded at 2.55 for the last single week of trading, and 1.55 for the last 200 days.
OrganiGram Holdings Inc. [OGI]: An insightful look at the core fundamentals
OrganiGram Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.11 and a Current Ratio set at 4.28.
Earnings per share (EPS) analysis for OrganiGram Holdings Inc. [OGI] stock
With the latest financial reports released by the company, OrganiGram Holdings Inc. posted 0.05/share EPS, while the average EPS was predicted by analysts to be reported at -0.06/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 183.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OGI.
OrganiGram Holdings Inc. [OGI]: Institutional Ownership
The top three institutional holders of OGI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in OGI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in OGI stock with ownership which is approximately 5.8325%.
