|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||6.50 - 6.70|
|52 Week Range||2.97 - 7.53|
|Beta (3Y Monthly)||2.85|
|PE Ratio (TTM)||54.13|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
CTST, TLRY, CGC, and Other Cannabis Stocks on the Rise(Continued from Prior Part)HEXO and APHA gain Today, HEXO (HEXO) was moving higher with a daily gain of 1.3% around noon while Aphria (APHA) wasn’t far behind with a gain of about 1%. When we
More than 40 international companies applied to address the assembled investors and industry experts at the Benzinga Cannabis Capital Conference, from major industry players to rapidly growing startups looking to scale in new markets. Targeting the side-effects and complications of pharmaceutical injury treatment, Copeland Biosciences produces CBD and THC topical formulations developed to provide targeted pain management and injury treatment. Founder and CEO Dr. Glenn Copeland said he experienced these side effects firsthand in his career as a sports medicine doctor.
One of the biggest surprises in the months since legalization is the diversity of the consumer base, Engel said. Another surprise: the strong demand for CBD, which Engel said OrganiGram continues to work to satisfy. The cannabis industry's growth wasn't a smooth ride and has had several headwinds, including supply challenges, Engel said.
HENDERSON, NV / ACCESSWIRE / April 18, 2019 / Cannabis stocks were a sea of red on Monday, weighed down by Aphria Inc. after it swung to a wide loss in the third quarter that outweighed a surge in revenue. ...
CGC, HEXO, CTST Moving Higher TodayCannabis sector gains Today, the Horizons Marijuana Life Sciences ETF (HMMJ) gained about 0.3% and the ETFMG Alternative Harvest ETF (MJ) gained about 0.3% in the first half of the trading session. However, the
Cannabis stocks rose across the board on Tuesday, as three separate surveys found Americans are increasingly in favor of legalization, demonstrating a major shift in opinion over the last two decades.
TLRY, CGC, ACB Snap Out of Their Losing Streaks(Continued from Prior Part)Aphria trading higher Aphria (APHA) lost about 14% in yesterday’s trading session after it reported its earnings. The company wrote off 50 million Canadian dollars relating
The main thesis in the cannabis sector for 2019 has been looking beyond the few major Canadian players that grabbed all of the financial headlines last year. OrganiGram Holdings (OGRMF) (TSE:OGI) is another company that follows the script of being under the radar and not listed on the major stock exchanges. The company doesn’t have the preferred access to the substantial U.S. market, but OrganiGram still offers a great growth opportunity in Canada without the wild spending for risky international expansion.Not So SmallOrganiGram posted FQ2 results through the end of February providing a view into 2019 adult-use recreational sales. The quarterly net revenues of C$26.9 million more than doubled from the previous quarter and places the company on the scale of some of the much better known Canadian companies. A prime example is the Cronos Group (CRON) that only reported C$15.7 million in revenues for all of 2018, yet the stock has a listed market value of over $5 billion.Even more important, OrganiGram hasn’t taken on aggressive expansion plans whether domestically or internationally so margins have remained relatively strong. For the quarter, gross margins were a strong 60% and adjusted EBITDA stayed a very healthy 49% of sales. Other major Canadian players only hope reach positive EBITDA numbers this year.After converting some debt, the company has a fully diluted share count of 165 million shares. The stock valuation is only roughly $1.1 billion despite doubling off the market lows in December. Most Canadian cannabis stocks trade at roughly 10x future sales that extend into 2020 or 2021 while this stock is closer to 10x the current sales rate that now exceeds C$100 million.Plenty Of GrowthLike most of the cannabis players in North America, OrganiGram has a plan to grow cultivation and enter the edibles and beverages segment when Canada opens it up last this year. The key here is building for reasonable growth, instead of wild expansion plans.OrganiGram is the process of tripling current production capacity to a reasonable 113,000 kg/year from 36,000 kg/year once completed later this year. In addition, the company has a 56,000 square feet building for Phase 5 expansion to cover the derivatives launch this year.The company expects to have several products available for sale including vape pens, chocolate edibles and a beverage product with an extended shelf live. By having products ready in quantities as needed and not on the bleeding edge, OrganiGram hasn’t needed wild share dilution. The cannabis company even has a cash balance of C$63 million at the end of February.Going forward, OrganiGram is positioned to need additional capital to expand as opposed for running operations at the wild losses of the major players such as the above-mentioned Cronos Group.TakeawayThe key investor takeaway is that companies like OrganiGram aren’t garnering the investor headlines since they aren’t undertaking excessive growth plans or listed on major stock exchanges. The lack of major headlines makes a stock like this a better value for investors.Wall Street’s confidence backing this cannabis stock is strong, with TipRanks analytics showcasing OrganiGram stock as a Strong Buy. Based on 11 analysts polled in the last 3 months, all 11 rate a Buy on the stock.To read more on the nitty gritty of what’s going on in the rising cannabis industry, click here. Disclosure: The author has no position in OrganiGram stock.More on OrganiGram: OrganiGram Remains a Buy, Says Jefferies More recent articles from Smarter Analyst: * Has Boeing (BA) Stock Hit Bottom? Looking for the Silver Lining * Facebook (FB) Stock: The Turnaround Is Real * For Cannabis Stock Tilray (TLRY), Marijuana Oversupply Could Be a Good Thing * Aurora Cannabis (ACB) Makes Another M&A; Move in Cannabis Biotech
Why Did Cannabis Stocks Fall on April 15?(Continued from Prior Part)Cannabis stocks Cannabis stocks were deep in the red on April 15. The sector is known for high volatility. Stocks in the cannabis space are more volatile compared to broader
OrganiGram: Key Takeaways from Its Q2 Earnings(Continued from Prior Part)Analysts’ views OrganiGram (OGRMF) reported its second-quarter earnings on April 15. The company’s top line increased more than 690%. However, the company reported a
OrganiGram: Key Takeaways from Its Q2 EarningsOrganiGram’s second-quarter earningsOn April 15, OrganiGram (OGRMF) reported its second-quarter earnings with net revenues of 26.9 million Canadian dollars. The revenues grew ~693% from 3.4 million
Organigram on Monday joined a chorus of companies saying their challenge in supplying the Canadian cannabis market is not growing massive amounts of marijuana, but transforming the plant into a product that’s ready for sale.
Today’s selloff by shares of Aphria (APHA) is a bitter pill for everyone.Cannabis stock investors across the board fled for the exits after the Canadian cannabis producer announced disappointing fiscal first-quarter results before the market opened.If you own shares of marijuana grower OrganiGram (OGRMF) (TSE:OGI), we have good news and bad news for you. The bad news: The stock is down nearly 6% is reaction to Aphria's bad earnings news.The good news: OrganiGram delivered an earnings beat today, with net revenues of C$26.9 million, slightly above the Street estimates of C$25.5 million. Gross margin and Adj EBITDA were also strong at 60% and C$13.3 million, beating expectations of 59% and C$13.3 million respectively.In reaction, Jefferies analyst Owen Bennett reiterates a Buy rating on the cannabis stock, with a C$10.00 price target. (To watch Bennett's track record, click here)Bennett commented, OrganiGram delivered impressive Q2 results – its third consecutive quarter of positive EBITDA. Revenues, GM and EBITDA all exceeded estimates and guidance. In our initiation, we argued that OrganiGram's recreational outlook deserved more value, and we think this is validated by that fact that its Q2 recreational sales were second only to Canopy's. Further details on plans for vape and beverages were welcome, setting the company up well for October's launch."The analyst continued, "Q2 marks three consecutive quarters of positive adjusted EBITDA, which we expect to be viewed positively in the context of many peers who are currently loss-making or expected to be loss-making in the short term. OrganiGram's industry-high margins are impressive when considering that all of its production is indoor rather than in greenhouses, and a control on other operating expenses has allowed for strong EBITDA. Some concerns may be raised around a lack of investment, especially for the launch of cannabis derivatives (extracts) later this year, but plans look to be firmly in place for this."All in all, most analysts on Wall Streets are out rooting for this cannabis maker to be a winning stock pick, as TipRanks analytics showcase OrganiGram as a Strong Buy. Based on 11 analysts polled in the last 8 months, all 11 are bullish on the stock. The 12-month average price target stands at C$9.57, marking a nearly 10% upside from where the stock is currently trading.To read more on the nitty gritty of what’s going on in the rising cannabis industry, click here. More recent articles from Smarter Analyst: * Has Boeing (BA) Stock Hit Bottom? Looking for the Silver Lining * Facebook (FB) Stock: The Turnaround Is Real * Cannabis Stock Canopy Growth (CGC) Stands to Gain from Potential Legalization in the US * Cowen Counts the Points in Aurora Cannabis (ACB) Stock's Favor
Despite a second-quarter loss, production expansion remains on track, and OrganiGram stands ready to push into multiple alternative consumption options this fall.
Canadian cannabis company Organigram Holdings Inc. said Monday it had a net loss of C$6.4 million ($4.8 million), or 5 cents a share, in its fiscal second quarter to Feb. 28, after earnings of C$1.076 million, or 1 cent a share, in the year-earlier period. Gross revenue rose to C$33.5 million from C$2.93 million a year ago. Revenue excluding excise taxes came to C$26.9 million. The consensus of four analysts polled by FactSet was for EPS of 2 cents and revenue of C$24.2 million. The company said its "all-in" cost of cultivation came to 85 cents per gram of dried flower harvested, down from C$1.48 a year ago, mostly due to higher yields per plant. The company said it believes it's well positioned for the derivatives and edibles launch in the fall of 2019 and is expanding capacity at its Moncton facility. It is focusing on vaporizable pen technologies and a range of edibles. Shares rose 0.9% premarket, and have gained 129.3% in the last 12 months, while the S&P 500 has gained 9.5%.
Organigram Reports Second Quarter Fiscal 2019 Results; Record Net Revenue of $26.9 Million
CGC, CRON, and GTBIF Reverse Their Falling Streaks on April 12Reversal The cannabis sector has been under pressure in April, with major cannabis stocks delivering negative returns so far in the month. However, on the morning of April 12, the
Benzinga is all geared up to host its third rendition of the Cannabis Capital Conference , full of big-time investors, top industry executives and reporters from around the world. If you haven’t already ...
HENDERSON, NV / ACCESSWIRE / April 10, 2019 / Shares of CBD drinks company New Age Beverages Corp. soared more than 22% on Monday, after the company said it reached an agreement to sell some of their products ...
There are a large number of publicly traded marijuana companies, with the biggest ones being located in Canada -- as Canada is the largest market where marijuana has been fully legalized, notes Ben Reynolds, editor of Sure Dividend in a special report on the best opportunities in the cannabis space.
Do Cannabis Stocks Look Cheap at These Valuations?(Continued from Prior Part)Comparable multiples The recent downtrend in cannabis stocks (HMMJ) has impacted valuation multiples and could make the stocks look attractive for investors looking to enter
Cannabis stocks were mixed on Wednesday, with Green Thumb Industries Inc. a standout after posting a big jump in revenue in its latest quarter, while packaging company KushCo fell sharply after saying 2018 losses may double after it uncovered accounting errors.
CTST, HEXO, and APHA: Cannabis Stocks Fall on April 9(Continued from Prior Part)Sector declinesOverall, the cannabis sector fell on April 9. The Horizon Marijuana Life Sciences ETF (HMMJ) lost almost 2.5% of its value by mid-day, while the ETFMG