$20.36 Million in Sales Expected for OrganiGram Holdings Inc (NASDAQ:OGI) This Quarter

Analysts expect OrganiGram Holdings Inc (NASDAQ:OGI) to post sales of $20.36 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for OrganiGram’s earnings. The lowest sales estimate is $19.00 million and the highest is $22.01 million. The firm is scheduled to announce its next quarterly earnings results on Monday, April 20th.

On average, analysts expect that OrganiGram will report full year sales of $97.95 million for the current year, with estimates ranging from $85.47 million to $117.95 million. For the next financial year, analysts forecast that the firm will report sales of $152.04 million, with estimates ranging from $110.06 million to $183.79 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover OrganiGram.

OrganiGram (NASDAQ:OGI) last announced its quarterly earnings data on Tuesday, November 26th. The company reported ($0.05) EPS for the quarter. The firm had revenue of $12.29 million during the quarter, compared to the consensus estimate of $12.20 million. OrganiGram had a negative net margin of 42.78% and a negative return on equity of 6.13%.

A number of research analysts have commented on OGI shares. AltaCorp Capital lowered OrganiGram from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, November 26th. BMO Capital Markets lowered OrganiGram from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 12th. Cantor Fitzgerald started coverage on OrganiGram in a research report on Tuesday, November 5th. They issued an “overweight” rating and a $17.10 price objective on the stock. Raymond James upgraded OrganiGram from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. Finally, Zacks Investment Research upgraded OrganiGram from a “sell” rating to a “hold” rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. OrganiGram presently has an average rating of “Hold” and a consensus target price of $9.80.

OGI traded down $0.13 during mid-day trading on Monday, reaching $2.76. The stock had a trading volume of 4,311,884 shares, compared to its average volume of 5,293,309. The stock has a market capitalization of $472.17 million and a P/E ratio of -13.80. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.36 and a current ratio of 3.92. The firm’s fifty day simple moving average is $2.53 and its two-hundred day simple moving average is $3.84. OrganiGram has a 52 week low of $1.89 and a 52 week high of $8.44.

Several large investors have recently bought and sold shares of OGI. AE Wealth Management LLC bought a new position in shares of OrganiGram in the 4th quarter worth $31,000. Wedbush Securities Inc. raised its stake in OrganiGram by 23.5% during the 4th quarter. Wedbush Securities Inc. now owns 17,850 shares of the company’s stock worth $44,000 after buying an additional 3,400 shares during the period. Tower Research Capital LLC TRC acquired a new stake in OrganiGram during the 2nd quarter worth $45,000. Archford Capital Strategies LLC acquired a new stake in OrganiGram during the 3rd quarter worth $57,000. Finally, Millennium Management LLC acquired a new stake in OrganiGram during the 3rd quarter worth $62,000. Institutional investors and hedge funds own 11.75% 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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Earnings History and Estimates for OrganiGram (NASDAQ:OGI)

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