Healthy Upside Potential: OrganiGram Holdings Inc. (OGI)

OrganiGram Holdings Inc. (NASDAQ: OGI) stock jumped 0.80% on Monday to $0.97 against a previous-day closing price of $0.96. With 0.62 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.31 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $0.9865 whereas the lowest price it dropped to was $0.9495. The 52-week range on OGI shows that it touched its highest point at $1.87 and its lowest point at $0.70 during that stretch. Beta for the stock currently stands at 1.40.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of OGI was down-trending over the past week, with a drop of -1.75%, but this was up by 20.04% over a month. Three-month performance surged to 9.66% while six-month performance fell -7.37%. The stock lost -36.01% in the past year, while it has gained 21.57% so far this year. A look at the trailing 12-month EPS for OGI yields -0.03 with Next year EPS estimates of -0.05. For the next quarter, that number is -0.01. This implies an EPS growth rate of 90.90% for this year and 20.00% for next year.

Float and Shares Shorts:

At present, 313.47 million OGI shares are outstanding with a float of 255.27 million shares on hand for trading. On Oct 13, 2022, short shares totaled 10.19 million, which was 3.25% higher than short shares on Sep 14, 2022. In addition to Mr. Derrick W. West CPA, CPA, (CA) as the firm’s Chief Financial Officer, Ms. Helen Martin serves as its Chief Legal Officer & Corp. Sec.

Institutional Ownership:

Through their ownership of 13.93% of OGI’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of OGI, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 4.50% stake in OGI, the ETFMG Alternative Harvest ETF is the largest stakeholder. A total of 14,137,563 shares are owned by the mutual fund manager. The Horizons Marijuana Life Sciences, which owns about 0.90% of OGI stock, is the second-largest Mutual Fund holder. It holds 2,826,045 shares valued at 2.26 million. Global X Cannabis ETF holds 0.81% of the stake in OGI, owning 2,548,929 shares worth 2.04 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OGI since 11 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With OGI analysts setting a high price target of $2.42 and a low target of $0.97, the average target price over the next 12 months is $1.51.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. OGI will report FY 2023 earnings on 11/27/2023. Analysts have provided yearly estimates in a range of $0.22 being high and -$0.07 being low. For OGI, this leads to a yearly average estimate of -$0.01. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. OrganiGram Holdings Inc. surprised analysts by $0.03 when it reported $0.02 EPS against a consensus estimate of -$0.01. The surprise factor in the prior quarter was $0.00. Based on analyst estimates, the high estimate for the next quarter is -$0.01 and the low estimate is -$0.02. The average estimate for the next quarter is thus -$0.01.

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