Organigram Holdings Inc. (NASDAQ:OGI) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC cut its stake in shares of Organigram Holdings Inc. (NASDAQ:OGI) by 34.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,020 shares of the company’s stock after selling 8,000 shares during the quarter. HighTower Advisors LLC’s holdings in Organigram were worth $27,000 as of its most recent SEC filing.

Separately, Renaissance Technologies LLC increased its stake in Organigram by 40.8% during the 2nd quarter. Renaissance Technologies LLC now owns 816,948 shares of the company’s stock valued at $1,258,000 after buying an additional 236,700 shares during the period. Hedge funds and other institutional investors own 34.63% of the company’s stock.

Organigram Stock Performance

Shares of NASDAQ OGI opened at $1.59 on Friday. The stock has a fifty day moving average price of $1.60 and a two-hundred day moving average price of $1.67. The firm has a market cap of $200.59 million, a P/E ratio of -3.79 and a beta of 1.02. Organigram Holdings Inc. has a 1 year low of $1.25 and a 1 year high of $2.91.

Organigram (NASDAQ:OGI) last released its 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 net margin of 45.57% and a negative return on equity of 16.76%. On average, research analysts predict that Organigram Holdings Inc. will post -0.2 earnings per share for the current fiscal year.

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.