OrganiGram Holdings Inc. (NASDAQ:OGI) shares, rose in value, with the stock price up by 12.25% to the previous day’s close as strong demand from buyers drove the stock to $2.29.
Actively observing the price movement in the last trading, the stock closed the session at $2.04. The value of beta (5-year monthly) was 1.11. Referring to stock’s 52-week performance, its high was $2.92, and the low was $0.97. On the whole, OGI has fluctuated by 13.37% over the past month.
With the market capitalization of OrganiGram Holdings Inc. currently standing at about $215.49 million, investors are eagerly awaiting this quarter’s results, scheduled for Apr 09, 2024 – Apr 15, 2024.
Analysts have estimated the company’s revenue for the quarter at $118.97 million, with a low estimate of $116.24 million and a high estimate of $122.21 million.
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% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of OGI currently trading nearly 5.37% and 12.45% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 53.52, while the 7-day volatility ratio is showing 10.35% which for the 30-day chart, stands at 8.62%. Furthermore, OrganiGram Holdings Inc. (OGI)’s beta value is 1.06, and its average true range (ATR) is 0.21.
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 12.25% in last session, and over the past year, it shrunk by -10.55%%.
Data on historical trading for OrganiGram Holdings Inc. (NASDAQ:OGI) indicates that the trading volumes over the past 10 days have averaged 3.15 million and over the past 3 months, they’ve averaged 1.26 million. According to company’s latest data on outstanding shares, there are 81.16 million shares outstanding.
Nearly 30.07% of OrganiGram Holdings Inc.’s shares belong to company insiders and institutional investors own 8.07% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.56 million shares as on Mar 15, 2024, resulting in a short ratio of 4.74. According to the data, the short interest in OrganiGram Holdings Inc. (OGI) stood at 3.77% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 4.17 million. The stock has risen by 74.81% 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.
