OrganiGram (NASDAQ:OGI) Announces Earnings Results

OrganiGram (NASDAQ:OGI) released its earnings results on Monday. The company reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.14), Fidelity Earnings reports. The firm had revenue of $14.69 million for the quarter, compared to analyst estimates of $16.02 million. OrganiGram had a negative return on equity of 4.15% and a negative net margin of 153.92%.

OrganiGram stock opened at $1.65 on Thursday. The company has a market cap of $382.95 million, a P/E ratio of -2.95 and a beta of 0.30. OrganiGram has a 1-year low of $1.01 and a 1-year high of $3.64. The company has a fifty day simple moving average of $1.44 and a 200 day simple moving average of $1.32. The company has a current ratio of 5.85, a quick ratio of 3.39 and a debt-to-equity ratio of 0.35.

OGI has been the subject of a number of research analyst reports. Raymond James raised shares of OrganiGram from a “market perform” rating to an “outperform” rating in a research report on Tuesday. BidaskClub raised shares of OrganiGram from a “sell” rating to a “hold” rating in a research report on Tuesday, November 10th. Alliance Global Partners lowered shares of OrganiGram from a “buy” rating to a “neutral” rating in a research report on Wednesday. CIBC increased their price target on shares of OrganiGram from $2.00 to $2.25 and gave the stock a “neutral” rating in a research report on Tuesday, December 1st. Finally, Cantor Fitzgerald decreased their price objective on shares of OrganiGram from $5.35 to $3.00 and set an “overweight” rating on the stock in a research note on Friday, December 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $2.56.

OrganiGram Company Profile

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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Earnings History for OrganiGram (NASDAQ:OGI)

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