Organigram (NASDAQ:OGI) Stock Price Down 1.3% – Time to Sell?

Organigram Holdings Inc. (NASDAQ:OGI)’s stock price was down 1.3% during trading on Friday . The stock traded as low as $1.53 and last traded at $1.55. Approximately 250,374 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 534,901 shares. The stock had previously closed at $1.57.

Organigram Price Performance

The firm has a fifty day moving average of $1.55 and a 200 day moving average of $1.68.

Organigram (NASDAQ:OGI) last posted its quarterly earnings results on Wednesday, December 18th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Organigram had a negative return on equity of 11.68% and a negative net margin of 28.58%. Research analysts forecast that Organigram Holdings Inc. will post -0.09 EPS for the current year.

Institutional Trading of Organigram

Several institutional investors have recently made changes to their positions in the company. Tidal Investments LLC increased its stake in Organigram by 8.3% during the third quarter. Tidal Investments LLC now owns 1,948,188 shares of the company’s stock worth $3,526,000 after acquiring an additional 149,171 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Organigram by 40.8% during the 2nd quarter. Renaissance Technologies LLC now owns 816,948 shares of the company’s stock worth $1,258,000 after purchasing an additional 236,700 shares during the period. Clear Harbor Asset Management LLC grew its holdings in shares of Organigram by 37.4% during the 4th quarter. Clear Harbor Asset Management LLC now owns 45,000 shares of the company’s stock worth $72,000 after purchasing an additional 12,250 shares during the period. Finally, Toronto Dominion Bank increased its position in shares of Organigram by 803.7% during the 3rd quarter. Toronto Dominion Bank now owns 16,727 shares of the company’s stock worth $30,000 after purchasing an additional 14,876 shares during the last quarter. Hedge funds and other institutional investors own 34.63% of the company’s stock.

About Organigram

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.