Cantor Fitzgerald Trims OrganiGram (NASDAQ:OGI) Target Price to $5.30

OrganiGram (NASDAQ:OGI) had its target price reduced by Cantor Fitzgerald from $5.70 to $5.30 in a report published on Wednesday morning, Stock Target Advisor reports. Cantor Fitzgerald currently has an overweight rating on the stock.

A number of other analysts have also commented on the company. cut their price target on OrganiGram from C$3.50 to C$3.00 and set a hold rating on the stock in a research note on Wednesday, November 24th. Zacks Investment Research raised OrganiGram from a sell rating to a hold rating in a research note on Thursday, November 4th. CIBC cut their price objective on OrganiGram from C$4.00 to C$3.50 and set a neutral rating on the stock in a research note on Thursday, September 23rd. Finally, Alliance Global Partners cut their price objective on OrganiGram from C$3.75 to C$3.00 and set a neutral rating on the stock in a research note on Tuesday, November 23rd. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $3.62.

Shares of OGI stock opened at $1.64 on Wednesday. The business’s 50-day moving average price is $1.95 and its 200-day moving average price is $2.31. OrganiGram has a 12 month low of $1.58 and a 12 month high of $6.45.

OrganiGram (NASDAQ:OGI) last announced its quarterly earnings results on Tuesday, November 23rd. The company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.03). OrganiGram had a negative net margin of 107.01% and a negative return on equity of 18.09%. The firm had revenue of $19.75 million for the quarter, compared to analyst estimates of $19.13 million. Equities analysts predict that OrganiGram will post -0.09 EPS for the current year.

A number of hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC increased its holdings in OrganiGram by 129.2% in the third quarter. Squarepoint Ops LLC now owns 25,882 shares of the company’s stock worth $60,000 after purchasing an additional 14,591 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of OrganiGram by 88.2% during the third quarter. Two Sigma Advisers LP now owns 741,873 shares of the company’s stock valued at $1,706,000 after acquiring an additional 347,673 shares in the last quarter. Two Sigma Securities LLC bought a new stake in shares of OrganiGram during the third quarter valued at approximately $35,000. Dimensional Fund Advisors LP increased its holdings in shares of OrganiGram by 1,713.9% during the third quarter. Dimensional Fund Advisors LP now owns 741,683 shares of the company’s stock valued at $1,706,000 after acquiring an additional 700,795 shares in the last quarter. Finally, HighTower Advisors LLC bought a new stake in shares of OrganiGram during the third quarter valued at approximately $56,000. Institutional investors and hedge funds own 11.78% of the company’s stock.

OrganiGram Company Profile

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Analyst Recommendations for OrganiGram (NASDAQ:OGI)

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