FY2024 EPS Estimates for Organigram Boosted by Analyst

Organigram Holdings Inc. (NASDAQ:OGI) – Alliance Global Partners increased their FY2024 earnings per share (EPS) estimates for Organigram in a note issued to investors on Monday, December 9th. Alliance Global Partners analyst A. Grey now forecasts that the company will post earnings per share of ($0.18) for the year, up from their previous forecast of ($0.19). The consensus estimate for Organigram’s current full-year earnings is ($0.21) per share. Alliance Global Partners also issued estimates for Organigram’s Q4 2024 earnings at ($0.02) EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at ($0.01) EPS, Q4 2025 earnings at ($0.01) EPS and FY2025 earnings at ($0.02) EPS.

Organigram Price Performance

OGI stock opened at $1.54 on Wednesday. The company has a 50-day moving average of $1.65 and a two-hundred day moving average of $1.68. The stock has a market capitalization of $167.73 million, a price-to-earnings ratio of -3.67 and a beta of 1.02. Organigram has a 52-week low of $1.20 and a 52-week high of $2.91.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC grew its position in Organigram by 8.3% during the third quarter. Tidal Investments LLC now owns 1,948,188 shares of the company’s stock worth $3,526,000 after buying an additional 149,171 shares in the last quarter. AdvisorShares Investments LLC increased its position in shares of Organigram by 11.8% during the second quarter. AdvisorShares Investments LLC now owns 1,000,126 shares of the company’s stock valued at $1,540,000 after purchasing an additional 105,468 shares during the period. Renaissance Technologies LLC increased its holdings in Organigram by 40.8% in the 2nd quarter. Renaissance Technologies LLC now owns 816,948 shares of the company’s stock valued at $1,258,000 after buying an additional 236,700 shares during the period. Baader Bank Aktiengesellschaft boosted its position in shares of Organigram by 26.4% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 252,852 shares of the company’s stock valued at $388,000 after acquiring an additional 52,852 shares in the last quarter. Finally, Canton Hathaway LLC increased its stake in Organigram by 115.8% in the second quarter. Canton Hathaway LLC now owns 41,000 shares of the company’s stock valued at $63,000 after acquiring an additional 22,000 shares during the period. Institutional investors own 34.63% of the company’s stock.

About Organigram

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.