Oppenheimer Releases a Hold Rating on OrganiGram Holdings (OGI)

Oppenheimer analyst Rupesh Parikh assigned a Hold rating to OrganiGram Holdings (OGI) today. The company’s shares closed last Tuesday at $1.97, close to its 52-week low of $1.09.

According to TipRanks.com, Parikh is a 5-star analyst with an average return of 14.2% and a 60.4% success rate. Parikh covers the Consumer Goods sector, focusing on stocks such as Bj’s Wholesale Club Holdings, The Estée Lauder Companies, and Church & Dwight.

Currently, the analyst consensus on OrganiGram Holdings is a Moderate Buy with an average price target of $3.15.

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Based on OrganiGram Holdings’ latest earnings release for the quarter ending February 29, the company reported a quarterly revenue of $23.22 million and GAAP net loss of $6.83 million. In comparison, last year the company earned revenue of $26.93 million and had a GAAP net loss of $6.39 million.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OGI in relation to earlier this year.

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OrganiGram Holdings, Inc. engages in the production and sale of medical marijuana. Its products include strains, cannabis oils, and vaporizrs. The company was founded on July 5, 2010 and is headquartered in Moncton, Canada.

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