Tidal Investments LLC Invests $3.74 Million in Organigram Holdings Inc. (NASDAQ:OGI)

Tidal Investments LLC acquired a new stake in Organigram Holdings Inc. (NASDAQ:OGI) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,737,876 shares of the company’s stock, valued at approximately $3,736,000.

Other institutional investors have also made changes to their positions in the company. Canton Hathaway LLC bought a new position in shares of Organigram in the 4th quarter valued at approximately $49,000. Formidable Asset Management LLC bought a new position in shares of Organigram in the 4th quarter valued at approximately $182,000. CVI Holdings LLC bought a new position in shares of Organigram in the 1st quarter valued at approximately $825,000. AXS Investments LLC raised its stake in shares of Organigram by 26.1% in the 4th quarter. AXS Investments LLC now owns 483,586 shares of the company’s stock valued at $633,000 after acquiring an additional 100,140 shares in the last quarter. Finally, Murchinson Ltd. bought a new position in shares of Organigram in the 1st quarter valued at approximately $1,737,000. 34.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Canaccord Genuity Group began coverage on Organigram in a research note on Wednesday, July 17th. They issued a “speculative buy” rating on the stock. Alliance Global Partners raised Organigram from a “neutral” rating to a “buy” rating in a report on Monday, April 15th.

Organigram Stock Performance

Shares of NASDAQ:OGI traded down $0.07 during trading on Friday, hitting $1.50. 146,920 shares of the stock were exchanged, compared to its average volume of 1,141,443. Organigram Holdings Inc. has a 1-year low of $0.97 and a 1-year high of $2.91. The company has a market capitalization of $155.70 million, a price-to-earnings ratio of -1.65 and a beta of 1.06. The company’s fifty day simple moving average is $1.63 and its 200-day simple moving average is $1.86.

Organigram (NASDAQ:OGI) last posted its earnings results on Tuesday, May 14th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). Organigram had a negative return on equity of 40.19% and a negative net margin of 188.38%. The company had revenue of $27.91 million for the quarter, compared to the consensus estimate of $28.27 million. On average, research analysts forecast that Organigram Holdings Inc. will post -0.32 earnings per share for the current fiscal year.

Organigram Company Profile

Organigram Holdings Inc, through its subsidiaries, engages in the production and sale of cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including whole flower, milled flower, pre-rolls, infused pre-rolls, vapes, gummies, and concentrates for medical retailers; adult use recreational cannabis under the SHRED, Holy Mountain, Big Bag O' Buds, Monjour, Trailblazer, SHRED'ems, Edison Cannabis Co, Edison JOLTS, Tremblant, and Laurentian brands.