OGI Stock Forecast: All the More Reason to Consider OrganiGram Holdings Inc. (OGI) Now

OrganiGram Holdings Inc. (NASDAQ: OGI) is 63.36% higher on its value in year-to-date trading and has touched a low of $0.97 and a high of $3.46 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The OGI stock was last observed hovering at around $2.28 in the last trading session, with the day’s loss setting it -0.14%.

Currently trading at $2.14, the stock is 16.83% and 38.88% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.8 million and changing -6.14% at the moment leaves the stock 41.45% off its SMA200. OGI registered -36.32% loss for a year compared to 6-month gain of 60.90%. The firm has a 50-day simple moving average (SMA 50) of $1.12 and a 200-day simple moving average (SMA200) of -$0.92.

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The stock witnessed a 25.88% loss in the last 1 month and extending the period to 3 months gives it a 84.48%, and is 21.59% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 12.07% over the week and 9.99% over the month.

Profit margin for the company is -153.07%. Distance from 52-week low is 120.57% and -38.19% from its 52-week high. The company has generated returns on investments over the last 12 months (-90.14%).

OrganiGram Holdings Inc. quarterly earnings per share for the current quarter are estimated at -$0.09 with sales reaching $28M over the same period., but quarterly earnings will post 2.60% year-over-year. Quarterly sales are estimated to shrink -9.10% in year-over-year returns.

OrganiGram Holdings Inc. (OGI) Top Institutional Holders

96 institutions hold shares in OrganiGram Holdings Inc. (OGI), with institutional investors hold 17.59% of the company’s shares. The shares outstanding are 81.16M, and float is at 52.87M with Short Float at 7.58%. Institutions hold 11.48% of the Float.

The top institutional shareholder in the company is ETF Managers Group, LLC with over 1.84 million shares valued at $4.71 million. The investor’s holdings represent 2.28% of the OGI Shares outstanding. As of Jun 29, 2023, the second largest holder is Mirae Asset Global Investments Co., Ltd. with 0.8 million shares valued at $1.24 million to account for 0.99% of the shares outstanding. The other top investors are AdvisorShares Investments, LLC which holds 0.52 million shares representing 0.65% and valued at over $0.82 million, while Bank of Montreal/Can/ holds 0.58% of the shares totaling 0.47 million with a market value of $0.73 million.

OrganiGram Holdings Inc. (OGI) Insider Activity

A total of 0 insider transactions have happened at OrganiGram Holdings Inc. (OGI) in the last six months, with sales accounting for 0 and purchases happening 0 times.

OrganiGram Holdings Inc. (OGI): Who are the competitors?

The company’s main competitors (and peers) include Ono Pharmaceutical Co. Ltd. ADR (OPHLY) that is trading -21.19% down over the past 12 months. Omeros Corp. (OMER) that is -15.63% lower over the same period.