Renaissance Technologies LLC Grows Stock Position in Organigram Holdings Inc. (NASDAQ:OGI)

Renaissance Technologies LLC boosted its position in Organigram Holdings Inc. (NASDAQ:OGI) by 40.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 816,948 shares of the company’s stock after buying an additional 236,700 shares during the period. Renaissance Technologies LLC owned approximately 0.79% of Organigram worth $1,258,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Canton Hathaway LLC lifted its holdings in shares of Organigram by 115.8% in the 2nd quarter. Canton Hathaway LLC now owns 41,000 shares of the company’s stock valued at $63,000 after buying an additional 22,000 shares during the period. Clear Harbor Asset Management LLC acquired a new stake in Organigram in the second quarter valued at $51,000. Baader Bank Aktiengesellschaft boosted its holdings in Organigram by 26.4% during the second quarter. Baader Bank Aktiengesellschaft now owns 252,852 shares of the company’s stock worth $388,000 after buying an additional 52,852 shares in the last quarter. AdvisorShares Investments LLC boosted its stake in shares of Organigram by 11.8% during the 2nd quarter. AdvisorShares Investments LLC now owns 1,000,126 shares of the company’s stock worth $1,540,000 after acquiring an additional 105,468 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Organigram in the first quarter valued at $340,000. 34.63% of the stock is owned by institutional investors and hedge funds.

Organigram Stock Performance

Organigram stock opened at $1.76 on Friday. The stock has a fifty day moving average price of $1.78 and a 200 day moving average price of $1.81. Organigram Holdings Inc. has a 52 week low of $0.97 and a 52 week high of $2.91. The firm has a market capitalization of $182.58 million, a P/E ratio of -1.87 and a beta of 1.03.

Organigram (NASDAQ:OGI) last released its earnings results on Tuesday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.07. The firm had revenue of $30.01 million during the quarter, compared to the consensus estimate of $28.67 million. Organigram had a negative net margin of 45.57% and a negative return on equity of 16.76%. As a group, equities analysts predict that Organigram Holdings Inc. will post -0.21 EPS for the current year.

Analyst Ratings Changes

Separately, Canaccord Genuity Group initiated coverage on Organigram in a report on Wednesday, July 17th. They set a “speculative buy” rating on the stock.

About Organigram

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.