Wall Street brokerages expect that OrganiGram Holdings Inc (NASDAQ:OGI) will announce $16.20 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for OrganiGram’s earnings, with the highest sales estimate coming in at $21.17 million and the lowest estimate coming in at $12.60 million. The company is expected to report its next earnings report on Monday, January 27th.
According to Zacks, analysts expect that OrganiGram will report full-year sales of $115.04 million for the current year, with estimates ranging from $75.33 million to $156.16 million. For the next year, analysts forecast that the company will post sales of $160.37 million, with estimates ranging from $92.37 million to $190.68 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow OrganiGram.
A number of research analysts have commented on OGI shares. Zacks Investment Research downgraded OrganiGram from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. BMO Capital Markets lowered OrganiGram from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 12th. Beacon Securities cut OrganiGram from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Cantor Fitzgerald began coverage on OrganiGram in a research note on Tuesday, November 5th. They set an “overweight” rating and a $17.10 price objective on the stock. Finally, AltaCorp Capital downgraded shares of OrganiGram from an “outperform” rating to a “sector perform” rating in a report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $9.80.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. TRUE Private Wealth Advisors acquired a new position in shares of OrganiGram during the second quarter valued at $25,000. Executive Wealth Management LLC acquired a new stake in shares of OrganiGram in the 2nd quarter worth about $39,000. Tower Research Capital LLC TRC acquired a new stake in shares of OrganiGram in the 2nd quarter worth about $45,000. Wedbush Securities Inc. acquired a new stake in shares of OrganiGram in the 3rd quarter worth about $50,000. Finally, QCI Asset Management Inc. NY bought a new stake in OrganiGram in the 2nd quarter valued at about $56,000. 11.76% of the stock is currently owned by hedge funds and other institutional investors.
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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