OrganiGram Holdings (OGI) Receives a Hold from Canaccord Genuity
Canaccord Genuity analyst Matt Bottomley maintained a Hold rating on OrganiGram Holdings (OGI) yesterday and set a price target of C$3.50. The company’s shares closed last Tuesday at $2.92.
According to TipRanks.com, Bottomley is a 5-star analyst with an average return of 27.9% and a 54.3% success rate. Bottomley covers the Basic Materials sector, focusing on stocks such as Acreage Holdings Inc Class D, Harvest Health & Recreation, and Vireo Health International.
OrganiGram Holdings has an analyst consensus of Hold, with a price target consensus of $3.75, representing a 51.8% upside. In a report issued on April 7, BMO Capital also upgraded the stock to Hold with a C$4.00 price target.
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Based on OrganiGram Holdings’ latest earnings release for the quarter ending November 30, the company reported a quarterly revenue of $19.33 million and GAAP net loss of $34.34 million. In comparison, last year the company earned revenue of $25.15 million and had a GAAP net loss of $863K.
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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.