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OrganiGram Holdings Inc. (NASDAQ: OGI): Aiming For A Higher Share Price

OrganiGram Holdings Inc. (NASDAQ:OGI) shares, rose in value on Friday, May 13, with the stock price up by 6.96% to the previous day’s close as strong demand from buyers drove the stock to $1.23.

Actively observing the price movement in the recent trading, the stock is buoying the session at $1.15, falling within a range of $1.10 and $1.20. The value of beta (5-year monthly) is 1.15. Referring to stock’s 52-week performance, its high was $3.52, and the low was $1.10. On the whole, OGI has fluctuated by -30.30% over the past month.

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With the market capitalization of OrganiGram Holdings Inc. currently standing at about $474.85 million, investors are eagerly awaiting this quarter’s results, scheduled for Apr 11, 2022 – Apr 15, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.02, which is expected to increase to -$0.02 for fiscal year -$0.07 and then to about -$0.03 by fiscal year 2023. Data indicates that the EPS growth is expected to be 82.50% in 2023, while the next year’s EPS growth is forecast to be 57.10%.

Analysts have estimated the company’s revenue for the quarter at $23.76 million, with a low estimate of $23.76 million and a high estimate of $23.76 million. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $108.6 million, representing an increase of 74.90% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that OGI’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of OGI currently trading nearly -13.62% and -17.67% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 38.15, while the 7-day volatility ratio is showing 8.53% which for the 30-day chart, stands at 7.02%. Furthermore, OrganiGram Holdings Inc. (OGI)’s beta value is 1.16, and its average true range (ATR) is 0.10.

A comparison of OrganiGram Holdings Inc. (OGI) with its peers suggests the former has fared considerably weaker in the market. OGI showed an intraday change of 6.96% in today’s session so far, and over the past year, it shrunk by -52.67%%. On the other hand, the price of Omeros Corporation (OMER) has risen 10.00% today. The stock, however, is off -83.91% from where it was a year ago. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 2.36%. Meanwhile, the Dow Jones Industrial Improved by 1.55%.

Data on historical trading for OrganiGram Holdings Inc. (NASDAQ:OGI) indicates that the trading volumes over the past 10 days have averaged 6.7 million and over the past 3 months, they’ve averaged 5.45 million. According to company’s latest data on outstanding shares, there are 308.36 million shares outstanding.

Nearly 19.63% of OrganiGram Holdings Inc.’s shares belong to company insiders and institutional investors own 14.89% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 13.95 million shares as on Dec 14, 2021, resulting in a short ratio of 1.61. According to the data, the short interest in OrganiGram Holdings Inc. (OGI) stood at 4.65% of shares outstanding as of Dec 14, 2021; the number of short shares registered in Nov 14, 2021 reached 17.3 million. The stock has fallen by -34.29% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the OGI stock heading into the next quarter.

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