OrganiGram Holdings Inc (NASDAQ:OGI) Receives Average Recommendation of “Buy” from Brokerages

Shares of OrganiGram Holdings Inc (NASDAQ:OGI) have been assigned an average recommendation of “Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $10.96.

Several equities research analysts recently weighed in on the company. Oppenheimer began coverage on OrganiGram in a research report on Thursday, September 5th. They set a “market perform” rating on the stock. Jefferies Financial Group upgraded OrganiGram from a “hold” rating to a “buy” rating and set a $8.20 price objective for the company in a report on Friday, October 11th. Zacks Investment Research lowered OrganiGram from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Raymond James assumed coverage on OrganiGram in a research report on Wednesday, September 18th. They set a “buy” rating for the company. Finally, CIBC assumed coverage on shares of OrganiGram in a report on Tuesday, September 24th. They set an “outperformer” rating and a $9.00 target price on the stock.

Shares of NASDAQ:OGI opened at $2.83 on Wednesday. OrganiGram has a 52-week low of $2.00 and a 52-week high of $8.44. The company has a market cap of $441.99 million and a price-to-earnings ratio of 20.21. The stock has a 50 day moving average price of $3.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.47 and a quick ratio of 1.88.

Several hedge funds have recently added to or reduced their stakes in OGI. Commonwealth Equity Services LLC bought a new position in OrganiGram during the 2nd quarter valued at approximately $569,000. Garrison Asset Management LLC bought a new position in OrganiGram in the 2nd quarter worth about $80,000. Creative Planning purchased a new stake in OrganiGram during the 2nd quarter valued at about $191,000. Traynor Capital Management Inc. purchased a new stake in OrganiGram during the 2nd quarter valued at about $171,000. Finally, Taylor Cottrill Erickson & Associates Inc. purchased a new stake in OrganiGram during the 2nd quarter valued at about $64,000. Hedge funds and other institutional investors own 11.76% of the company’s stock.

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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Analyst Recommendations for OrganiGram (NASDAQ:OGI)

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