OrganiGram Holdings Inc (NASDAQ:OGI) Given Consensus Rating of “Buy” by Brokerages

OrganiGram Holdings Inc (NASDAQ:OGI) has been given an average broker rating score of 1.57 (Buy) from the seven analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and four have assigned a strong buy rating to the company.

Brokerages have set a 12 month consensus price objective of $9.54 for the company and are anticipating that the company will post $0.02 EPS for the current quarter, according to Zacks. Zacks has also given OrganiGram an industry rank of 76 out of 256 based on the ratings given to its competitors.

A number of brokerages recently weighed in on OGI. Paradigm Capital began coverage on shares of OrganiGram in a research report on Wednesday, April 17th. They set a “buy” rating for the company. Jefferies Financial Group increased their target price on shares of Monster Beverage from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, May 3rd.

Shares of OGI stock traded down $0.45 on Friday, hitting $5.83. The company had a trading volume of 3,112,634 shares, compared to its average volume of 913,404. OrganiGram has a twelve month low of $2.97 and a twelve month high of $8.44.

Hedge funds have recently made changes to their positions in the company. Davis Rea LTD. acquired a new position in OrganiGram in the 2nd quarter worth $73,000. Ingalls & Snyder LLC acquired a new stake in shares of OrganiGram in the 2nd quarter valued at about $113,000. Rothschild Investment Corp IL acquired a new stake in shares of OrganiGram in the 2nd quarter valued at about $175,000. Finally, Exane Derivatives acquired a new stake in shares of OrganiGram in the 2nd quarter valued at about $258,000. 0.09% of the stock is currently owned by institutional investors and hedge funds.

About OrganiGram

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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