Organigram Holdings Inc. (NASDAQ:OGI) Short Interest Up 58.1% in February

Organigram Holdings Inc. (NASDAQ:OGI) was the target of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 4,300,000 shares, a growth of 58.1% from the January 31st total of 2,720,000 shares. Approximately 4.8% of the company’s stock are sold short. Based on an average daily trading volume, of 911,500 shares, the days-to-cover ratio is presently 4.7 days.

Organigram Price Performance

Shares of Organigram stock traded up $0.01 during trading hours on Friday, hitting $1.15. The company had a trading volume of 862,593 shares, compared to its average volume of 978,131. The company has a market cap of $145.15 million, a P/E ratio of -3.03 and a beta of 1.00. Organigram has a twelve month low of $1.11 and a twelve month high of $2.91. The company’s 50-day moving average is $1.50 and its two-hundred day moving average is $1.64.

Organigram (NASDAQ:OGI) last released its earnings results on Tuesday, February 11th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate 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 expect that Organigram will post -0.19 EPS for the current year.

Hedge Funds Weigh In On Organigram

Several institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC lifted its position in Organigram by 210.7% during 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. Oxford Asset Management LLP bought a new position in Organigram during the 4th quarter worth approximately $50,000. Two Sigma Securities LLC acquired a new position in shares of Organigram in the 4th quarter worth approximately $26,000. Dimensional Fund Advisors LP increased 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 valued at $579,000 after acquiring an additional 43,721 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Organigram by 2.4% during the 4th quarter. Renaissance Technologies LLC now owns 914,648 shares of the company’s stock valued at $1,473,000 after acquiring an additional 21,200 shares in the last quarter. 34.63% of the stock is currently owned by institutional investors and hedge funds.

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.