The OrganiGram Holdings Inc. (OGI) shares are trading at lower $1.23.
To add more color to this target, the company’s high over the last year is $6.06 and the low is $1.09. Over the last 52 weeks, OGI is down -79.70% while the S&P 500 is up 0.79%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, OGI reported a profit of $-35.94 million. OrganiGram Holdings Inc. also saw revenues decrease to $12.9 million. In addition, OGI has free cash flow of -$75.92 million as of 05-2020. The company’s EBITDA came in at -$67.83 million which compares well with its peers.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. OGI has a short ratio of 2.26 and outstanding shares of 194.51M.
OGI has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 3.45 million and more growth is possible in the weeks ahead. OrganiGram Holdings Inc. OGI also noted assets of $310.34 million at the end of the last quarter. Investors should also keep an eye on sector updates as OGI has historically followed its peers on positive news.
All told, OrganiGram Holdings Inc. OGI has strung together solid data and demonstrated underlying fundamentals. At its current valuation, OGI represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
OrganiGram Holdings Inc. OGI is now commanding a market cap of 239.24M and a float of 194.16M. OGI is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of OGI stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in OGI, either long or short, and we have not been compensated for this article.