Organigram (NASDAQ:OGI) Stock Price Down 2.7% – Time to Sell?

Organigram Holdings Inc. (NASDAQ:OGI)’s share price fell 2.7% on Monday . The company traded as low as $0.87 and last traded at $0.92. 836,493 shares were traded during mid-day trading, an increase of 5% from the average session volume of 799,625 shares. The stock had previously closed at $0.95.

Organigram Stock Performance

The firm has a market capitalization of $116.74 million, a PE ratio of -2.43 and a beta of 1.10. The firm’s 50 day moving average price is $1.21 and its 200-day moving average price is $1.48.

Organigram (NASDAQ:OGI) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Organigram had a negative return on equity of 8.59% and a negative net margin of 31.69%. On average, equities research analysts expect that Organigram Holdings Inc. will post -0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Organigram

Institutional investors have recently added to or reduced their stakes in the stock. Clear Harbor Asset Management LLC lifted its holdings in Organigram by 37.4% during the fourth quarter. Clear Harbor Asset Management LLC now owns 45,000 shares of the company’s stock valued at $72,000 after purchasing an additional 12,250 shares in the last quarter. Toronto Dominion Bank lifted its stake in Organigram by 803.7% in the 3rd quarter. Toronto Dominion Bank now owns 16,727 shares of the company’s stock valued at $30,000 after buying an additional 14,876 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in Organigram in the 4th quarter worth about $26,000. Renaissance Technologies LLC increased its stake in Organigram by 2.4% during the 4th quarter. Renaissance Technologies LLC now owns 914,648 shares of the company’s stock worth $1,473,000 after buying an additional 21,200 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Organigram by 210.7% during the fourth quarter. Cubist Systematic Strategies LLC now owns 45,095 shares of the company’s stock valued at $73,000 after acquiring an additional 30,583 shares during the last quarter. Institutional investors and hedge funds own 34.63% of the company’s stock.

Organigram Company Profile

Organigram Holdings Inc, through its subsidiaries, engages in the production and sale of cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including whole flower, milled flower, pre-rolls, infused pre-rolls, vapes, gummies, and concentrates for medical retailers; adult use recreational cannabis under the SHRED, Holy Mountain, Big Bag O' Buds, Monjour, Trailblazer, SHRED'ems, Edison Cannabis Co, Edison JOLTS, Tremblant, and Laurentian brands.