OrganiGram Holdings Inc (NASDAQ:OGI) Given Consensus Rating of “Buy” by Brokerages
OrganiGram Holdings Inc (NASDAQ:OGI) has been assigned a consensus broker rating score of 1.75 (Buy) from the eight brokers that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and four have assigned a strong buy rating to the company. OrganiGram’s rating score has declined by 11.5% from three months ago as a result of various analysts’ upgrades and downgrades.
Analysts have set a twelve-month consensus price objective of $9.24 for the company and are forecasting that the company will post $0.02 earnings per share for the current quarter, according to Zacks. Zacks has also given OrganiGram an industry rank of 76 out of 256 based on the ratings given to related companies.
Several brokerages have recently issued reports on OGI. Zacks Investment Research upgraded OrganiGram from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. Pi Financial set a $12.00 price objective on OrganiGram and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Oppenheimer began coverage on OrganiGram in a research note on Thursday, September 5th. They issued a “market perform” rating on the stock.
Shares of NASDAQ OGI traded down $0.19 during mid-day trading on Friday, hitting $4.54. The company had a trading volume of 763,809 shares, compared to its average volume of 958,098. OrganiGram has a 1-year low of $2.97 and a 1-year high of $8.44. The business’s 50-day moving average price is $5.14.
OrganiGram (NASDAQ:OGI) last announced its quarterly earnings data on Monday, July 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.09). The firm had revenue of $30.36 million during the quarter, compared to analyst estimates of $30.81 million. The business’s revenue was up 782.6% compared to the same quarter last year. As a group, sell-side analysts expect that OrganiGram will post 0.06 earnings per share for the current fiscal year.
OrganiGram Company Profile
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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