Sigma Planning Corp Has $187,000 Stock Position in OrganiGram Holdings Inc (NASDAQ:OGI)

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Sigma Planning Corp boosted its holdings in shares of OrganiGram Holdings Inc (NASDAQ:OGI) by 16.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,412 shares of the company’s stock after buying an additional 10,997 shares during the period. Sigma Planning Corp’s holdings in OrganiGram were worth $187,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. Morgan Stanley purchased a new stake in OrganiGram in the 2nd quarter valued at about $971,000. Ladenburg Thalmann Financial Services Inc. purchased a new position in shares of OrganiGram in the second quarter valued at about $188,000. Royal Bank of Canada purchased a new position in shares of OrganiGram in the second quarter valued at about $2,116,000. Wedbush Securities Inc. purchased a new position in shares of OrganiGram during the third quarter valued at about $50,000. Finally, Archford Capital Strategies LLC purchased a new position in shares of OrganiGram during the third quarter valued at about $57,000. 11.67% of the stock is currently owned by institutional investors.

Several brokerages have recently issued reports on OGI. Zacks Investment Research upgraded shares of OrganiGram from a “sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Beacon Securities downgraded shares of OrganiGram from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Paradigm Capital set a $8.50 target price on shares of OrganiGram and gave the stock a “buy” rating in a research note on Thursday, October 17th. Bank of America started coverage on shares of OrganiGram in a research note on Monday, January 13th. They issued an “underperform” rating on the stock. Finally, Cantor Fitzgerald started coverage on shares of OrganiGram in a research report on Tuesday, November 5th. They set an “overweight” rating and a $17.10 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $9.80.

OGI stock traded up $0.08 during midday trading on Friday, reaching $2.49. 4,348,858 shares of the company’s stock traded hands, compared to its average volume of 4,627,424. OrganiGram Holdings Inc has a 52-week low of $1.89 and a 52-week high of $8.44. The stock has a market cap of $392.12 million and a P/E ratio of -12.42. The company has a current ratio of 3.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.24. The stock’s 50-day moving average is $2.52 and its 200 day moving average is $3.46.

OrganiGram (NASDAQ:OGI) last announced its earnings results on Tuesday, November 26th. The company reported ($0.05) EPS for the quarter. OrganiGram had a negative net margin of 42.78% and a negative return on equity of 6.13%. The business had revenue of $12.29 million for the quarter, compared to analysts’ expectations of $12.20 million. As a group, research analysts expect that OrganiGram Holdings Inc will post 0.01 EPS for the current fiscal year.

About OrganiGram

OrganiGram Holdings Inc, through its subsidiaries, produces and sells dried cannabis and cannabis oil in Canada. It also offers wholesale shipping of cannabis plant cuttings, dried flowers, blends, pre-rolls, and cannabis oils to retailers and wholesalers. The company also exports its products. It sells its products online, as well as through phone orders.

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Institutional Ownership by Quarter for OrganiGram (NASDAQ:OGI)

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