Organigram (NASDAQ:OGI) Shares Down 1.3% – Should You Sell?

Organigram Holdings Inc. (NASDAQ:OGI) traded down 1.3% on Friday . The stock traded as low as $1.53 and last traded at $1.55. 250,374 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 534,901 shares. The stock had previously closed at $1.57.

Organigram Trading Down 1.3 %

The stock has a 50 day moving average of $1.55 and a 200-day moving average of $1.68. The stock has a market capitalization of $195.54 million, a P/E ratio of -4.08 and a beta of 1.00.

Organigram (NASDAQ:OGI) last issued its earnings results on Wednesday, December 18th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). Organigram had a negative net margin of 28.58% and a negative return on equity of 11.68%. Research analysts anticipate that Organigram Holdings Inc. will post -0.09 EPS for the current year.

Hedge Funds Weigh In On Organigram

A number of hedge funds have recently added to or reduced their stakes in OGI. Renaissance Technologies LLC boosted its holdings in shares of 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 purchasing an additional 236,700 shares during the period. Toronto Dominion Bank raised its position in Organigram by 803.7% during the 3rd quarter. Toronto Dominion Bank now owns 16,727 shares of the company’s stock valued at $30,000 after purchasing an additional 14,876 shares in the last quarter. Tidal Investments LLC raised its position in Organigram by 8.3% during the 3rd quarter. Tidal Investments LLC now owns 1,948,188 shares of the company’s stock valued at $3,526,000 after purchasing an additional 149,171 shares in the last quarter. Finally, Clear Harbor Asset Management LLC lifted its holdings in shares of Organigram by 37.4% in the 4th quarter. Clear Harbor Asset Management LLC now owns 45,000 shares of the company’s stock worth $72,000 after buying an additional 12,250 shares during the period. 34.63% of the stock is currently owned by institutional investors.

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.