|Bid||2.8600 x 36900|
|Ask||2.8700 x 36200|
|Day's Range||2.4400 - 2.9200|
|52 Week Range||1.0100 - 6.4500|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
What do a leading data analytics company and a licensed cannabis producer have in common? Although not much can be found at a mere glance, dig deeper and you will find two growth stocks riding solid structural trends. The companies in question are Palantir (NYSE: PLTR) and OrganiGram Holdings (NASDAQ: OGI).
OrganiGram Holdings slid as much as 10% in pre-market trading on Tuesday after the company posted lower second quarter revenue than expected by analysts. OrganiGram Holdings’ (OGI) revenue was C$14.6 million in 2Q 2021, down from C$23.2 million in the same quarter a year earlier. It missed analysts’ estimates of C$19.1 million. The Canadian cannabis company posted a net loss of C$66.4 million in the quarter ended February 28, much wider than the loss of C$6.8 million posted in 2Q 2020. Organigram CEO Greg Engel said, "Although Q2 2021 results were challenged by industry dynamics, COVID-19 and staffing limitations at our facility, we believe there are excellent prospects ahead for the industry, Organigram and our shareholders." "Nearer term, we are currently tracking to generate higher revenue in Q3 2021 as our new product portfolio continues to gain traction and we become better staffed to fulfill demand," Engel added. OrganiGram currently has C$232 million in cash and short-term investments. Last week, the cannabis company acquired The Edibles & Infusions Corp. This acquisition positions OrganiGram to generate revenue from edibles, a fast-growing market. (See OrganiGram stock analysis on TipRanks) Last week, BMO Capital analyst Tamy Chen upgraded the stock to Hold from Sell with an unchanged C$4.00 price target (14% upside potential). She is positive about OrganiGram’s strategic collaboration with British American Tobacco (BTI). Overall, OrganiGram stock has a Moderate Buy consensus rating, based on 2 Buys and 6 Holds. The average analyst price target of C$4.72 implies an upside potential of about 34% to current levels. Shares have plunged almost 40% over the past month. Related News: Aphria’s 3Q Sales and EPS Miss EstimatesShares Plunge 14% Blackberry Partners With IBM To Provide Spark Platform Across Canada Summit Industrial Income REIT Completes C$250M Green Bond Offering More recent articles from Smarter Analyst: Blackberry Partners With IBM To Provide Spark Platform Across Canada Johnson Controls Awarded $91M Contract From US GSA Nvidia Gives Key Investor Day Updates; 1Q Revenue Tracking Above $5.3B 1Q Outlook Summit Industrial Income REIT Completes C$250M Green Bond Offering
OrganiGram Holdings (NASDAQ: OGI) reported its fiscal second-quarter 2021 results this morning, and the stock initially dropped 12% on the report. The decline quickly eased, however, with shares trading about 2% lower than Monday's close as of 10:20 a.m. EDT. OrganiGram CEO Greg Engel noted the business was "challenged by industry dynamics, COVID-19 and staffing limitations at our facility."