Organigram Holdings Inc. (NASDAQ:OGI) Short Interest Update

Organigram Holdings Inc. (NASDAQ:OGI) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 5,400,000 shares, a growth of 25.6% from the February 13th total of 4,300,000 shares. Currently, 6.5% of the shares of the company are short sold. Based on an average daily volume of 991,800 shares, the short-interest ratio is currently 5.4 days.

Organigram Stock Performance

Shares of Organigram stock traded up $0.04 during trading on Monday, reaching $1.07. The company’s stock had a trading volume of 393,012 shares, compared to its average volume of 935,381. The business’s fifty day moving average price is $1.39 and its 200-day moving average price is $1.57. The firm has a market cap of $135.05 million, a price-to-earnings ratio of -2.82 and a beta of 1.01. Organigram has a one year low of $0.96 and a one year high of $2.91.

Organigram (NASDAQ:OGI) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Organigram had a negative return on equity of 8.59% and a negative net margin of 31.69%. Sell-side analysts anticipate that Organigram will post -0.19 EPS for the current year.

Hedge Funds Weigh In On Organigram

Several institutional investors and hedge funds have recently added to or reduced their stakes in OGI. Arrowstreet Capital Limited Partnership bought a new position in Organigram during the fourth quarter valued at about $1,153,000. Tidal Investments LLC boosted its holdings in shares of Organigram by 8.3% in the 3rd 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 in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Organigram by 13.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 359,739 shares of the company’s stock worth $579,000 after acquiring an additional 43,721 shares in the last quarter. Oxford Asset Management LLP acquired a new position in shares of Organigram in the 4th quarter worth approximately $50,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Organigram by 210.7% in the 4th quarter. Cubist Systematic Strategies LLC now owns 45,095 shares of the company’s stock worth $73,000 after acquiring an additional 30,583 shares in the last quarter. 34.63% of the stock is currently owned by institutional investors.

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.