Short Interest in Organigram Holdings Inc. (NASDAQ:OGI) Grows By 25.6%

Organigram Holdings Inc. (NASDAQ:OGI) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 5,400,000 shares, a growth of 25.6% from the February 13th total of 4,300,000 shares. Approximately 6.5% of the shares of the stock are short sold. Based on an average trading volume of 991,800 shares, the short-interest ratio is currently 5.4 days.

Organigram Price Performance

OGI stock remained flat at $1.07 during trading on Tuesday. The company had a trading volume of 260,434 shares, compared to its average volume of 965,013. Organigram has a 12 month low of $0.96 and a 12 month high of $2.91. The stock has a market cap of $135.05 million, a PE ratio of -2.82 and a beta of 1.01. The business’s fifty day moving average price is $1.37 and its 200-day moving average price is $1.57.

Organigram (NASDAQ:OGI) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Organigram had a negative return on equity of 8.59% and a negative net margin of 31.69%. As a group, equities analysts anticipate that Organigram will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OGI. Two Sigma Securities LLC acquired a new position in shares of Organigram during the 4th quarter worth approximately $26,000. Toronto Dominion Bank raised its position in Organigram by 803.7% in the third quarter. Toronto Dominion Bank now owns 16,727 shares of the company’s stock valued at $30,000 after purchasing an additional 14,876 shares during the period. Oxford Asset Management LLP purchased a new stake in Organigram in the fourth quarter valued at approximately $50,000. Clear Harbor Asset Management LLC raised its position in Organigram by 37.4% in the fourth quarter. Clear Harbor Asset Management LLC now owns 45,000 shares of the company’s stock valued at $72,000 after purchasing an additional 12,250 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in Organigram by 210.7% in the fourth quarter. Cubist Systematic Strategies LLC now owns 45,095 shares of the company’s stock valued at $73,000 after purchasing an additional 30,583 shares during the period. 34.63% of the stock is currently owned by institutional investors and hedge funds.

Organigram Company Profile

Organigram Holdings Inc, through its subsidiaries, engages in the production and sale of cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including whole flower, milled flower, pre-rolls, infused pre-rolls, vapes, gummies, and concentrates for medical retailers; adult use recreational cannabis under the SHRED, Holy Mountain, Big Bag O' Buds, Monjour, Trailblazer, SHRED'ems, Edison Cannabis Co, Edison JOLTS, Tremblant, and Laurentian brands.