OrganiGram (NASDAQ:OGI) Announces Earnings Results, Misses Estimates By $0.14 EPS

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

Shares of OGI stock opened at $1.65 on Thursday. The company has a market capitalization of $382.95 million, a P/E ratio of -2.95 and a beta of 0.30. The business’s 50 day moving average is $1.44 and its two-hundred day moving average is $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. OrganiGram has a 12-month low of $1.01 and a 12-month high of $3.64.

Several brokerages have weighed in on OGI. Cantor Fitzgerald lowered their target price on OrganiGram from $5.35 to $3.00 and set an “overweight” rating for the company in a report on Friday, December 4th. CIBC upped their target price on OrganiGram from $2.00 to $2.25 and gave the stock a “neutral” rating in a report on Tuesday, December 1st. Alliance Global Partners cut OrganiGram from a “buy” rating to a “neutral” rating in a report on Wednesday. BidaskClub upgraded OrganiGram from a “sell” rating to a “hold” rating in a report on Tuesday, November 10th. Finally, Raymond James upgraded OrganiGram from a “market perform” rating to an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price 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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