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OrganiGram (OGI) Dips More Than Broader Markets: What You Should Know

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Zacks Equity Research
·2 min read
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In the latest trading session, OrganiGram (OGI) closed at $3.03, marking a -1.62% move from the previous day. This change lagged the S&P 500's daily loss of 0.48%. Meanwhile, the Dow lost 1.5%, and the Nasdaq, a tech-heavy index, added 0.56%.

Coming into today, shares of the cannabis producer had gained 61.26% in the past month. In that same time, the Medical sector lost 4.94%, while the S&P 500 lost 0.53%.

Investors will be hoping for strength from OGI as it approaches its next earnings release. The company is expected to report EPS of -$0.03, down 50% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $16.57 million, down 4.3% from the prior-year quarter.

OGI's full-year Zacks Consensus Estimates are calling for earnings of -$0.16 per share and revenue of $74.18 million. These results would represent year-over-year changes of -100% and +14.97%, respectively.

It is also important to note the recent changes to analyst estimates for OGI. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. OGI currently has a Zacks Rank of #4 (Sell).

The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 165, which puts it in the bottom 36% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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