OrganiGram (NASDAQ:OGI) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of OrganiGram (NASDAQ:OGI) from a hold rating to a buy rating in a research report released on Wednesday morning, The Fly reports. They currently have C$3.25 target price on the stock, up from their prior target price of C$3.00.

A number of other analysts have also recently commented on the company. Alliance Global Partners lowered their price target on OrganiGram from C$3.75 to C$3.00 and set a neutral rating for the company in a research note on Tuesday, November 23rd. They noted that the move was a valuation call. lowered their price target on OrganiGram from C$3.50 to C$3.00 and set a hold rating for the company in a research note on Wednesday, November 24th. Cantor Fitzgerald lowered their price target on OrganiGram from $5.70 to $5.30 and set an overweight rating for the company in a research note on Wednesday. Canaccord Genuity Group raised OrganiGram from a hold rating to a speculative buy rating and upped their price target for the company from $3.00 to $3.25 in a research note on Wednesday. Finally, Zacks Investment Research raised OrganiGram from a sell rating to a hold rating in a research note on Thursday, November 4th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $3.62.

Shares of NASDAQ:OGI opened at $1.64 on Wednesday. OrganiGram has a 1-year low of $1.58 and a 1-year high of $6.45. The business has a 50-day moving average price of $1.95 and a two-hundred day moving average price of $2.31.

OrganiGram (NASDAQ:OGI) last announced its quarterly earnings data on Tuesday, November 23rd. The company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.03). The firm had revenue of $19.75 million for the quarter, compared to the consensus estimate of $19.13 million. OrganiGram had a negative return on equity of 18.09% and a negative net margin of 107.01%. As a group, sell-side analysts expect that OrganiGram will post -0.09 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Chartist Inc. CA acquired a new position in OrganiGram during the 2nd quarter worth approximately $29,000. Bank of New York Mellon Corp acquired a new position in OrganiGram during the 2nd quarter worth approximately $29,000. Advisor Resource Council acquired a new position in OrganiGram during the 2nd quarter worth approximately $34,000. Two Sigma Securities LLC acquired a new position in OrganiGram during the 3rd quarter worth approximately $35,000. Finally, Invesco Ltd. acquired a new position in OrganiGram during the 2nd quarter worth approximately $51,000. 11.78% of the stock is owned by institutional investors and hedge funds.

About OrganiGram

Recommended Story: 52-week highs

The Fly logo

Analyst Recommendations for OrganiGram (NASDAQ:OGI)

Receive News & Ratings for OrganiGram Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OrganiGram and related companies with MarketBeat.com's FREE daily email newsletter.