Organigram Holdings Inc. (NASDAQ:OGI) Short Interest Up 58.1% in February

Organigram Holdings Inc. (NASDAQ:OGI) was the recipient of 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. Approximately 4.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 911,500 shares, the days-to-cover ratio is presently 4.7 days.

Organigram Stock Up 0.9 %

Organigram stock traded up $0.01 during midday trading on Friday, reaching $1.15. 862,593 shares of the stock traded hands, compared to its average volume of 978,131. The stock’s fifty day moving average is $1.50 and its 200-day moving average is $1.64. Organigram has a 12 month low of $1.11 and a 12 month high of $2.91. The stock has a market cap of $145.15 million, a P/E ratio of -3.03 and a beta of 1.00.

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

Institutional Investors Weigh In On Organigram

A number of hedge funds and other institutional investors have recently bought and sold shares of OGI. Clear Harbor Asset Management LLC boosted its holdings in Organigram by 37.4% in the fourth quarter. Clear Harbor Asset Management LLC now owns 45,000 shares of the company’s stock valued at $72,000 after purchasing an additional 12,250 shares during the last quarter. Toronto Dominion Bank lifted its stake in Organigram by 803.7% in the 3rd quarter. Toronto Dominion Bank now owns 16,727 shares of the company’s stock worth $30,000 after purchasing an additional 14,876 shares in the last quarter. Two Sigma Securities LLC acquired a new position in Organigram during the fourth quarter worth $26,000. Renaissance Technologies LLC increased its position in Organigram by 2.4% during the fourth quarter. Renaissance Technologies LLC now owns 914,648 shares of the company’s stock worth $1,473,000 after purchasing an additional 21,200 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Organigram by 210.7% during the 4th quarter. Cubist Systematic Strategies LLC now owns 45,095 shares of the company’s stock worth $73,000 after buying an additional 30,583 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.