OrganiGram (NASDAQ:OGI) Raised to “Market Perform” at BMO Capital Markets

OrganiGram (NASDAQ:OGI) was upgraded by equities research analysts at BMO Capital Markets from an “underperform” rating to a “market perform” rating in a report issued on Thursday, Price Targets.com reports.

Several other analysts have also recently issued reports on OGI. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price objective (up from $3.50) on shares of OrganiGram in a research note on Thursday, March 11th. They noted that the move was a valuation call. Alliance Global Partners reiterated a “neutral” rating on shares of OrganiGram in a research note on Thursday, March 11th. Stifel Nicolaus increased their price objective on OrganiGram from $1.90 to $6.00 and gave the company a “hold” rating in a research note on Tuesday, March 16th. Canaccord Genuity cut OrganiGram from a “buy” rating to a “hold” rating and reduced their price objective for the company from $2.50 to $2.00 in a research note on Tuesday, January 12th. Finally, Raymond James raised their price target on OrganiGram from $3.00 to $6.00 and gave the company an “outperform” rating in a research note on Friday, March 12th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $4.09.

NASDAQ:OGI opened at $3.16 on Thursday. The company has a quick ratio of 3.39, a current ratio of 2.66 and a debt-to-equity ratio of 0.17. The stock’s fifty day moving average is $3.49 and its two-hundred day moving average is $2.03. OrganiGram has a 52 week low of $1.01 and a 52 week high of $6.45. The stock has a market capitalization of $733.98 million, a price-to-earnings ratio of -4.65 and a beta of 0.30.

OrganiGram (NASDAQ:OGI) last released its quarterly earnings results on Monday, January 11th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.14). OrganiGram had a negative return on equity of 10.00% and a negative net margin of 207.26%. The firm had revenue of $14.69 million for the quarter, compared to analyst estimates of $16.02 million. On average, sell-side analysts expect that OrganiGram will post -0.11 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Paloma Partners Management Co purchased a new position in shares of OrganiGram during the third quarter worth about $31,000. Marathon Capital Management purchased a new position in shares of OrganiGram during the fourth quarter worth about $33,000. Laidlaw Wealth Management LLC purchased a new position in shares of OrganiGram during the fourth quarter worth about $40,000. Creative Planning grew its holdings in shares of OrganiGram by 20.7% during the fourth quarter. Creative Planning now owns 38,093 shares of the company’s stock worth $51,000 after purchasing an additional 6,522 shares during the last quarter. Finally, Kathmere Capital Management LLC purchased a new position in shares of OrganiGram during the third quarter worth about $56,000. Institutional investors own 10.84% of the company’s stock.

About OrganiGram

Organigram Holdings Inc, through its subsidiaries, produces and sells cannabis and cannabis-derived products in Canada. It offers cannabis flowers, extracts, edibles and oils, beverages, and other cannabis products for adult recreational market under the Edison Reserve, Edison Cannabis Co, ANKR Organics, and Trailblazer brands; and medical cannabis products, including strains, cannabis oils, extracts, edibles, beverages, and vaporizers for the medical market.

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Analyst Recommendations for OrganiGram (NASDAQ:OGI)

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