Executive Wealth Management LLC Invests $39,000 in OrganiGram Holdings Inc (NASDAQ:OGI)

Executive Wealth Management LLC purchased a new position in OrganiGram Holdings Inc (NASDAQ:OGI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,000 shares of the company’s stock, valued at approximately $39,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OGI. TRUE Private Wealth Advisors bought a new position in shares of OrganiGram in the 2nd quarter worth $25,000. Truvestments Capital LLC acquired a new position in OrganiGram during the 2nd quarter valued at about $29,000. Taylor Cottrill Erickson & Associates Inc. acquired a new position in OrganiGram during the 2nd quarter valued at about $64,000. Davis Rea LTD. acquired a new position in OrganiGram during the 2nd quarter valued at about $73,000. Finally, Garrison Asset Management LLC acquired a new position in OrganiGram during the 2nd quarter valued at about $80,000. 0.88% of the stock is owned by hedge funds and other institutional investors.

OrganiGram stock opened at $5.00 on Friday. The company’s 50-day moving average price is $6.09. OrganiGram Holdings Inc has a fifty-two week low of $2.97 and a fifty-two week high of $8.44.

OrganiGram (NASDAQ:OGI) last posted its quarterly earnings results on Monday, July 15th. The company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.09). The business had revenue of $30.36 million during the quarter, compared to analyst estimates of $30.81 million. The company’s quarterly revenue was up 782.6% on a year-over-year basis. As a group, equities research analysts forecast that OrganiGram Holdings Inc will post 0.06 earnings per share for the current year.

Several brokerages recently issued reports on OGI. Pi Financial set a $12.00 target price on OrganiGram and gave the company a “buy” rating in a research report on Monday, July 15th. Jefferies Financial Group lowered OrganiGram from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, Zacks Investment Research raised OrganiGram from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th.

About OrganiGram

OrganiGram Holdings Inc, through its subsidiaries, produces and sells dried cannabis and cannabis oil in Canada. It also offers wholesale shipping of cannabis plant cuttings, dried flowers, blends, pre-rolls, and cannabis oils to retailers and wholesalers. The company also exports its products. It sells its products online, as well as through phone orders.

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Institutional Ownership by Quarter for OrganiGram (NASDAQ:OGI)

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