Organigram (NASDAQ:OGI) Stock Price Up 2.8% – Here’s Why

Shares of Organigram Holdings Inc. (NASDAQ:OGI) traded up 2.8% during trading on Monday . The company traded as high as $1.52 and last traded at $1.48. 451,790 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 947,989 shares. The stock had previously closed at $1.44.

Organigram Price Performance

The stock’s 50-day moving average price is $1.75 and its 200 day moving average price is $1.73. The firm has a market capitalization of $160.71 million, a PE ratio of -3.52 and a beta of 1.03.

Institutional Investors Weigh In On Organigram

Several hedge funds have recently modified their holdings of OGI. Tidal Investments LLC purchased a new position in Organigram in the first quarter valued at about $3,736,000. AdvisorShares Investments LLC grew its position in shares of Organigram by 11.8% in the 2nd quarter. AdvisorShares Investments LLC now owns 1,000,126 shares of the company’s stock worth $1,540,000 after buying an additional 105,468 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Organigram by 40.8% in the 2nd quarter. Renaissance Technologies LLC now owns 816,948 shares of the company’s stock worth $1,258,000 after buying an additional 236,700 shares during the last quarter. Murchinson Ltd. bought a new position in shares of Organigram during the 1st quarter worth approximately $1,737,000. Finally, Baader Bank Aktiengesellschaft lifted its position in Organigram by 26.4% during the second quarter. Baader Bank Aktiengesellschaft now owns 252,852 shares of the company’s stock valued at $388,000 after acquiring an additional 52,852 shares during the last quarter. Hedge funds and other institutional investors 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.