Organigram (NASDAQ:OGI) Trading Up 2.8% – What’s Next?

Organigram Holdings Inc. (NASDAQ:OGI) rose 2.8% during mid-day trading on Monday . The company traded as high as $1.52 and last traded at $1.48. Approximately 451,790 shares were traded during trading, a decline of 52% from the average daily volume of 947,989 shares. The stock had previously closed at $1.44.

Organigram Stock Up 2.1 %

The firm’s 50-day moving average is $1.74 and its 200-day moving average is $1.72. The company has a market capitalization of $161.20 million, a PE ratio of -3.45 and a beta of 1.03.

Institutional Investors Weigh In On Organigram

A number of institutional investors have recently made changes to their positions in OGI. Tidal Investments LLC bought a new position in shares of Organigram in the first quarter worth approximately $3,736,000. Murchinson Ltd. purchased a new position in shares of Organigram in the first quarter valued at about $1,737,000. Renaissance Technologies LLC raised its stake in shares of Organigram by 40.8% during the second quarter. Renaissance Technologies LLC now owns 816,948 shares of the company’s stock valued at $1,258,000 after acquiring an additional 236,700 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Organigram during the first quarter worth about $340,000. Finally, AdvisorShares Investments LLC grew its stake in shares of Organigram by 11.8% in the second quarter. AdvisorShares Investments LLC now owns 1,000,126 shares of the company’s stock worth $1,540,000 after purchasing an additional 105,468 shares during the last quarter. Hedge funds and other institutional investors own 34.63% of the company’s stock.

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.