OrganiGram Holdings Inc. (NASDAQ:OGI) shares, rose in value on Friday, November 5, with the stock price down by -2.38% to the previous day’s close as strong demand from buyers drove the stock to $2.26.
Actively observing the price movement in the recent trading, the stock is buoying the session at $2.31, falling within a range of $2.31 and $2.40. The value of beta (5-year monthly) is 1.17. Referring to stock’s 52-week performance, its high was $6.45, and the low was $1.07. On the whole, OGI has fluctuated by 0.43% over the past month.
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With the market capitalization of OrganiGram Holdings Inc. currently standing at about $867.77 million, investors are eagerly awaiting this quarter’s results, scheduled for Nov 29, 2021 – Dec 03, 2021.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that OGI’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of OGI currently trading nearly -1.42% and -5.40% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 45.63, while the 7-day volatility ratio is showing 5.15% which for the 30-day chart, stands at 4.93%. Furthermore, OrganiGram Holdings Inc. (OGI)’s beta value is 1.17, and its average true range (ATR) is 0.11.
A comparison of OrganiGram Holdings Inc. (OGI) with its peers suggests the former has fared considerably weaker in the market. OGI showed an intraday change of -2.38% in today’s session so far, and over the past year, it grew by 86.29%%. On the other hand, the price of Omeros Corporation (OMER) has risen 3.53% today. The stock, however, is off -29.28% from where it was a year ago. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 0.73%. Meanwhile, the Dow Jones Industrial Improved by 0.90%.
Data on historical trading for OrganiGram Holdings Inc. (NASDAQ:OGI) indicates that the trading volumes over the past 10 days have averaged 5.0 million and over the past 3 months, they’ve averaged 5.30 million. According to company’s latest data on outstanding shares, there are 300.57 million shares outstanding.
Nearly 19.63% of OrganiGram Holdings Inc.’s shares belong to company insiders and institutional investors own 18.11% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 15.95 million shares as on Sep 14, 2021, resulting in a short ratio of 2.86. According to the data, the short interest in OrganiGram Holdings Inc. (OGI) stood at 5.34% of shares outstanding as of Sep 14, 2021; the number of short shares registered in Aug 12, 2021 reached 17.1 million. The stock has risen by 73.68% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the OGI stock heading into the next quarter.