Short Interest in Organigram Holdings Inc. (NASDAQ:OGI) Increases By 58.1%

Organigram Holdings Inc. (NASDAQ:OGI) saw a significant growth in short interest in 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. Currently, 4.8% of the shares of the stock are sold short. Based on an average daily volume of 911,500 shares, the days-to-cover ratio is currently 4.7 days.

Organigram Stock Performance

NASDAQ:OGI traded down $0.08 during mid-day trading on Monday, reaching $1.07. The stock had a trading volume of 1,242,799 shares, compared to its average volume of 984,753. The firm has a 50 day moving average price of $1.49 and a two-hundred day moving average price of $1.63. The stock has a market capitalization of $135.05 million, a P/E ratio of -2.82 and a beta of 1.00. Organigram has a one year low of $1.06 and a one year high of $2.91.

Organigram (NASDAQ:OGI) last released its earnings results on Tuesday, February 11th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Organigram had a negative return on equity of 8.59% and a negative net margin of 31.69%. Research analysts forecast that Organigram will post -0.19 earnings per share for the current year.

Institutional Trading of Organigram

A number of hedge funds have recently bought and sold shares of the company. Tidal Investments LLC lifted its position in Organigram by 8.3% in the 3rd quarter. Tidal Investments LLC now owns 1,948,188 shares of the company’s stock worth $3,526,000 after buying an additional 149,171 shares during the last quarter. Renaissance Technologies LLC lifted its position in Organigram by 2.4% in the fourth quarter. Renaissance Technologies LLC now owns 914,648 shares of the company’s stock valued at $1,473,000 after purchasing an additional 21,200 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Organigram in the fourth quarter valued at approximately $1,153,000. Dimensional Fund Advisors LP lifted its position in Organigram by 13.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 359,739 shares of the company’s stock valued at $579,000 after purchasing an additional 43,721 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in Organigram by 210.7% in the fourth quarter. Cubist Systematic Strategies LLC now owns 45,095 shares of the company’s stock valued at $73,000 after purchasing an additional 30,583 shares during the last quarter. 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.