OrganiGram (NASDAQ:OGI) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of OrganiGram (NASDAQ:OGI) from a hold rating to a buy rating in a research report released on Thursday morning, Zacks.com reports. They currently have $4.00 price objective on the stock.

According to Zacks, “Organigram Holdings Inc. is a licensed producer of cannabis and cannabis-derived products primarily in Canada, through a wholly owned subsidiary. Organigram Holdings Inc. is based in Moncton, Canada. “

OGI has been the topic of a number of other reports. Pi Financial set a $12.00 target price on OrganiGram and gave the stock a buy rating in a report on Monday, July 15th. Jefferies Financial Group raised OrganiGram from a hold rating to a buy rating and set a $8.20 target price on the stock in a report on Friday, October 11th. Oppenheimer began coverage on OrganiGram in a report on Thursday, September 5th. They set a market perform rating on the stock. Raymond James began coverage on OrganiGram in a report on Wednesday, September 18th. They set a buy rating on the stock. Finally, CIBC began coverage on OrganiGram in a report on Tuesday, September 24th. They set an outperformer rating and a $9.00 target price on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. OrganiGram currently has an average rating of Buy and an average target price of $8.30.

Shares of NASDAQ OGI traded down $0.13 during midday trading on Thursday, reaching $3.60. 2,070,365 shares of the company traded hands, compared to its average volume of 2,055,533. OrganiGram has a 52 week low of $2.71 and a 52 week high of $8.44. The stock’s 50-day moving average is $3.93.

A number of large investors have recently added to or reduced their stakes in OGI. TRUE Private Wealth Advisors acquired a new stake in shares of OrganiGram during the 2nd quarter valued at about $25,000. Truvestments Capital LLC acquired a new stake in shares of OrganiGram during the 2nd quarter valued at about $29,000. Executive Wealth Management LLC acquired a new stake in shares of OrganiGram during the 2nd quarter valued at about $39,000. Tower Research Capital LLC TRC acquired a new stake in shares of OrganiGram during the 2nd quarter valued at about $45,000. Finally, QCI Asset Management Inc. NY acquired a new stake in shares of OrganiGram during the 2nd quarter valued at about $56,000. 13.74% of the stock is currently owned by 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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Analyst Recommendations for OrganiGram (NASDAQ:OGI)

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