HighTower Advisors LLC Trims Stake in Organigram Holdings Inc. (NASDAQ:OGI)

HighTower Advisors LLC cut its holdings in Organigram Holdings Inc. (NASDAQ:OGI) by 34.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 15,020 shares of the company’s stock after selling 8,000 shares during the period. HighTower Advisors LLC’s holdings in Organigram were worth $27,000 at the end of the most recent reporting period.

Separately, Renaissance Technologies LLC raised its holdings in Organigram by 40.8% in the second quarter. Renaissance Technologies LLC now owns 816,948 shares of the company’s stock valued at $1,258,000 after buying an additional 236,700 shares during the period. 34.63% of the stock is owned by institutional investors.

Organigram Price Performance

Shares of OGI opened at $1.59 on Friday. The stock has a market cap of $200.59 million, a PE ratio of -3.79 and a beta of 1.02. Organigram Holdings Inc. has a 12 month low of $1.25 and a 12 month high of $2.91. The stock’s 50-day moving average is $1.60 and its two-hundred day moving average is $1.67.

Organigram (NASDAQ:OGI) last released its quarterly earnings results on Wednesday, December 18th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Organigram had a negative return on equity of 16.76% and a negative net margin of 45.57%. On average, research analysts anticipate that Organigram Holdings Inc. will post -0.2 earnings per share for the current year.

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.