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OrganiGram Holdings Inc. (NASDAQ: OGI) Stock Sentiment: What’s Wall Street Saying?

OrganiGram Holdings Inc. (NASDAQ:OGI) price closed higher on Friday, February 09, jumping 2.28% below its previous close.

A look at the daily price movement shows that the last close reads $2.51. The company’s 5Y monthly beta was ticking 1.11. Taking into account the 52-week price action we note that the stock hit a 52-week high of $3.56 and 52-week low of $0.97. The stock added 58.89% on its value in the past month.

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OrganiGram Holdings Inc., which has a market valuation of $185.04 million, is expected to release its quarterly earnings report Feb 13, 2024. Analysts tracking OGI have forecast the quarterly EPS to shrink by -0.09 per share this quarter, while the same analysts predict the annual EPS to hit -$0.28 for the year 2024 and up to -$0.14 for 2025. In this case, analysts estimate an annual EPS growth of 89.60% for the year and 50.00% for the next year.

On average, analysts have forecast the company’s revenue for the quarter will hit $28.02 million, with the likely lows of $25.96 million and highs of $31.2 million. The average estimate suggests sales growth for the quarter will likely fall by -9.00% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $123.02 million for the company’s annual revenue in 2024. Per this projection, the revenue is forecast to grow 2.60% above that which the company brought in 2024.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with — upward and — downward reviews. On the technical perspective front, indicators give OGI a short term outlook of 100% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Buy, while an average of long term indicators are currently assigning the stock as 50% Buy.

The overview shows that OGI’s price is at present -177.76% off the SMA20 and -2.72% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 70.72, with weekly volatility standing at 11.96%. The indicator jumps to 10.48% when calculated based on the past 30 days. OrganiGram Holdings Inc. (NASDAQ:OGI)’s beta value is holding at 1.05, while the average true range (ATR) indicator is currently reading 0.16.

Turning out attention to how the OrganiGram Holdings Inc. stock has performed in comparison to its peers in the industry, here’s what we find: OGI’s stock is 2.28% on the day and -35.01% in the past 12 months. Turning out attention to how the OrganiGram Holdings Inc. stock has performed in comparison to its peers in the industry, here’s what we find: OGI’s stock is 2.28% on the day and -35.01% in the past 12 months. Another comparison is with Omeros Corp. (OMER) whose stock price was up 15.41%% in the last trading session, and has flourished -17.67% over the past year.

An analysis of the OrganiGram Holdings Inc. (NASDAQ:OGI) stock in terms of its daily trading volume indicates that the 3-month average is 1.64. However, this figure increases on the past 10-day timeline to an average of 1.1 million.

Current records show that the company has 81.16M in outstanding shares. The insiders’ percentage holdings are 34.86% of outstanding shares while the percentage share held by institutions stands at 7.35%. The stats also highlight that short interest as of Jan 31, 2024, stood at 4.01 million shares, which puts the short ratio at the time at 4.06. From this we can glean that short interest is 4.26% of company’s current outstanding shares. Notably, we see that shares short in January rose slightly given the previous month’s figure stood at 3.87 million. But the 74.05% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.