OGI - OrganiGram Holdings Inc.
| Previous Close | 5.15 |
| Open | 5.17 |
| Bid | 5.02 x 1000 |
| Ask | 5.02 x 1400 |
| Day's Range | 5.01 - 5.28 |
| 52 Week Range | 4.90 - 8.44 |
| Volume | 490,545 |
| Avg. Volume | 1,064,354 |
| Market Cap | 780.928M |
| Beta (3Y Monthly) | 2.10 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | N/A |
| Earnings Date | N/A |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | N/A |
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- InvestorPlace
Aurora Is on Track, But ACB Stock Isn’t Ready to Run Yet
The official fiscal Q4 numbers from Aurora Cannabis (NYSE:ACB) haven't been reported yet. But, if Tuesday's 10% pop of ACB stock in response to some preliminary figures is any indication, investors are expecting mostly good results.Source: Shutterstock The primary catalyst for the jump of ACB stock was the increase of the company's revenue and volume outlook. * 5 Cheap Stocks to Buy Now That the Fed Cut Rates The cannabis company had previously suggested that it would sell about 25,000 kilograms of legal marijuana during the three-month stretch ending in June, translating into cannabis revenue of somewhere between C$90 million and C$95 million. On Tuesday, ACB raised its volume guidance to a range of 25,000-30,000 kilograms, translating into a top-line outlook of between C$100 million and C$107 million.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThat still shouldn't be enough to pull the company out of the red. It may not even be enough to keep Aurora stock price moving higher; Aurora stock price was already peeling back from its intraday high on Tuesday, and it fell yesterday. Any further glimmer of hope, though, may be enough to spark a bullish run by ACB stock. Slowly But SurelyAlthough most cannabis companies haven't reported their Q2 numbers yet, the figures the marijuana industry have supplied this earnings season have been encouraging.Aphria (NYSE:APHA), for instance, reported a profit, which is rare for young cannabis companies. As a result, Aphria became, along with the relatively obscure OrganiGram Holdings (NASDAQ:OGI) , two of the few profitable cannabis companies. Better known marijuana companies like Canopy Growth (NYSE:CGC) and the aforementioned Aurora Cannabis are still losing money, despite their enormous sales growth.Most of Aphria's operating profit, however, stemmed from its acquisition of a distributor, CC Pharma. Without that deal, the company may have reported a quarterly loss.Still, the industry and most of its individual components are making solid forward progress as Canada's legal pot industry continues to get off the ground.Aurora's expected loss of $51.4 million for the quarter that ended in June is less than the company's loss of $66 million during the same period a year earlier. Perhaps more importantly, the figure was more or less in-line with the $49.7 million loss it reported for the previous quarter.The company's anticipated loss of 5 cents per share of ACB stock for the June quarter is notably better than its 15 cents per share loss during the same period in 2018.That's all part of a broad trend that has Aurora on track to swing to a net profit during Q2 of calendar 2020. The Price Action of ACB Stock Suggests SkepticismBut can we trust that analysts have foreseen every contingency? And will the market wait another year for profits that aren't guaranteed?There is no clear answer to either question.The expected move into the black by ACB next year should be viewed with a healthy amount of skepticism.Assuming the price of cannabis holds steady, Aurora may well start cranking out operating earnings in 2020. Nothing kills prices, however, more than overproduction based on the assumption that pricing power can withstand any degree of supply.Just ask Micron Technology (NASDAQ:MU), which once again found itself trapped by a memory chip glut that it helped create. Ask homebuilders about the mismatched supply and demand of 2007. Ask oil and gas drillers about excessive prospecting in 2013.In other words, never say never. Indeed, although current and projected cannabis prices firmed up through July, they are far from being on a firm foundation.Meanwhile, it's unlikely investors who've already embraced marijuana mania will be willing to stick it out -- fully -- in the absence of clear proof that Aurora Cannabis will indeed become permanently viable. The fact that ACB stock hasn't actually made any net progress since late 2017 speaks volumes about the lack of real confidence in its future, even though it has never been closer to true profitability. Click to Enlarge The Outlook of ACB StockThe cannabis craze took hold of investors about a year before most of these companies were ready to deliver on the hype. Struggling to live up to lofty expectations, these marijuana companies have struggled lately. ACB stock has been no exception.The worst may not be over, though.We're nearing a critical gap between the last stage of marijuana mania and the first real evidence that the legal pot business can be profitable.How long that phase will last isn't clear. But it's highly likely that the Aurora stock price will need to suffer one last capitulation before the decks are cleared for an advance that's more fully driven by its fundamentals.In recent years, several manias have exhibited a similar pattern, including solar mania in 2013 and the crypto craze that crashed and burned last year. Both ideas have merit, but their profitability wasn't part of the conversation at the time. All investors knew about them was "buy now," and they paid the price for being too early.So investors should tread lightly with marijuana stocks at this point, but they should be ready to buy them when it's scary to do so.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Internet Stocks Getting Hammered * 6 Big Growth ETFs to Buy For the Second Half of 2019 * 5 Cheap Stocks to Buy Now That the Fed Cut Rates The post Aurora Is on Track, But ACB Stock Isn't Ready to Run Yet appeared first on InvestorPlace.
- Motley Fool
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Aphria Stock Soars on Proof Pot Can Be Profitable … Sort Of
After Thursday's close, cannabis company Aphria (NYSE:APHA) reported an actual net profit for its recently-completed quarter, catapulting Aphria stock higher to the tune of 30% on Friday. The numbers were posted even before the echoes of industry-wide writedown concerns for other legal marijuana companies had stopped ringing.APHA is something of an industry outlier. Most of the company's rivals have been, and will likely continue to, bleed money as a result of making huge acquisition bets that consume time and money beyond a deal's price tag. One notable exception is a largely-unknown OrganiGram Holdings (NASDAQ:OGI), which has been normally turning a profit for a year.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 8 of the Most Shorted Stocks in the Markets Right Now Nevertheless, Aphria's quarter offers up a glimpse of what could be -- and arguably should be -- the future for most of the most recognizable names in the business. These other outfits just need to start the engines on all the assets they have been gathering, but are not yet utilizing.Of course, there's a big footnote that has to be added to any exploration of these per-share results for APHA stock. Aphria Quarterly ResultsIt was a breath of fresh air … almost.For the quarter ending in May, Canada's Aphria booked record-breaking net revenue of C$128.6 million, up nearly 1000% on a year-over-year basis, turning C$15.8 million of that into net income. Granted, a year ago, recreational marijuana had not yet been legalized in Canada, and the company made a key, accretive acquisition in the meantime. The top line was still up 75% from the previous quarter's tally, however -- boosted by slightly-improved prices -- and a profit is still a profit.This particular profit, though, somewhat taints the now-seemingly unstoppable Aphria stock.Of that C$128.6 million in revenue Aphria produced, C$99.2 million of it was driven by the January acquisition of German medical marijuana distributor CC Pharma, and categorized as distribution revenue. Recreational marijuana sales, although up an impressive 158% year-over-year, still only rolled in at C$18.5 million. It's possible that without the addition of CC Pharma, Aphria would have still been in the red for its recently ended quarter.The adjusted EBITDA from distribution operations was actually a negative 3.9 million, while the company's adjusted total EBITDA was only C$209,000.If nothing else, credit must be given for making a savvy acquisition that's already bearing fruit. Other cannabis outfits continue to pay a steep price (literally and figuratively) for deal-making that's yet to add any revenue to the mix. Writedown Risk Remains for APHA StockBloomberg Intelligence analyst Kenneth Shea cautioned investors in early July that major, profit-sapping writedowns could be taken in the near future. Without offering specifics, he was seemingly talking about Canopy Growth (NYSE:CGC), Aurora Cannabis (NYSE:ACB) and Aphria. Those companies (though not just those companies), show large levels of so-called 'goodwill' on their balance sheets related to recent acquisitions.If those deals don't start to pay off soon, accounting standards necessitate these organizations fiscally indicate as much.It's not an idle warning or a mere possibility either. In its quarter ending in February, Aphria took a C$50 million impairment charge versus its C$73.6 million worth of revenue to reflect lackluster performance from deals made with Central American cannabis organizations.As of the end of May, Aphria indicated nearly C$670 million worth of goodwill still on its balance sheet.Though less concerning for Aphria stock, in June BMO Capital Markets cannabis analysts Tamy Chen and Peter Sklar expressed concern about growing inventory levels on several cannabis companies' balance sheets. The analysts noted, "What remains unclear is why the planting of recently licensed grow rooms has not been meaningfully offset by the conversion of prior months' unfinished inventory into finished products for sale to provincial distributors given the apparent supply shortage in retail channels," adding that "If some of the dated 'unfinished inventory' is ultimately determined to not be extraction-grade, then there would be a need for inventory writedowns."Aphria currently has C$91.5 million worth of inventory on-hand, though the potential use and marketability of that inventory has not been detailed. Looking Ahead for Aphria StockIt's possible Aphria could grow its way past worries that its recreational marijuana business is barely breaking even, and that more writedowns are in the works. The company is forecasting revenues of between C$650 million and C$700 million for the fiscal year that just began, which should yield an EBITDA of between $88 and $95 million.With the introduction of edibles in Canada beginning in December, Aphria wouldn't have to capture much of that market to reach its revenue goal. Its EBITDA outlook may not be quite as easily attained.Whatever's in the cards, there's no escaping the fact that after Friday's surge, Aphria stock is priced uncomfortably high for newcomers.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about him at his website jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 of the Most Shorted Stocks in the Markets Right Now * 7 Charts That Should Concern Marijuana Stock Investors * 8 Monthly Dividend Stocks to Buy for Consistent Income The post Aphria Stock Soars on Proof Pot Can Be Profitable … Sort Of appeared first on InvestorPlace.
- Benzinga
Organigram To Pre-Fund Purchase Of 60,000 Kilograms Of Dried Hemp Flower
Cannabis producer Organigram Inc. (NASDAQ: OGI) announced Friday that it has signed an advance payment and purchase agreement with 703454 N.B. Inc., which operates as 1812 Hemp. Under the terms of the agreement, the company will pre-fund the purchase of 60,000 kilograms of dried hemp flower. Organigram said it plans to harvest those hemp flowers this year for extraction into CBD isolate.
- Business Wire
Organigram Signs New Agreement for Access to 60,000kg of CBD-rich Hemp
TSX-V: OGI) the parent company of Organigram Inc. (collectively the “Company” or “Organigram”), a leading licensed producer of cannabis, is pleased to announce that it has entered into an advance payment and purchase agreement (the “Payment Agreement”) with 703454 N.B. Inc. (carrying on business as 1812 Hemp) (“1812 Hemp”) under which the Company will pre-fund hemp purchases to receive access to as much as 60,000 kilograms of dried hemp flower to be harvested in calendar 2019 for extraction into cannabidiol (“CBD”) isolate.
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Everything You Need to Know About Marijuana Legalization 2.0
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The Week In Cannabis: A New Global Leader, Moves In UK And Colombia, ETFs Outperform
The big item in cannabis last week was Curaleaf Holdings, Inc. (OTC: CURLF) (CSE:CURA)’s acquisition of multi-state operator Grassroots for $875 million in cash and stock. M&A expert Evan Eneman, CEO of MGO|ELLO Alliance, told Benzinga another move toward consolidation “means that the industry is maturing.
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Weekly Cannabis Stock News: Curaleaf Makes a Power Play
Curaleaf is buying expansion with its $875 acquisition of Grassroots. Meanwhile, OrganiGram reported Q3 results, and Aurora Cannabis had a good news/bad news week.
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Cannabis Stocks Are Crashing: 3 Pot Stocks on Sale
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- SmarterAnalyst
Organigram (OGI) Growth Experiment Hits Earnings – Long-Term Narrative Remains Solid
For investors looking for positive earnings sooner rather than later, OrganiGram Holdings (OGI) has been one of the favorites of the cannabis sector. While it under performed in its last earnings report, for the most part, it is a correctable situation that has already been resolved.CEO Greg Engel said the drop in plant yield in the reporting period was temporary, and "not only have our yields returned to historical levels, but we have seen a meaningful increase in average cannabinoid levels in harvests to date in Q4."That said, OrganiGram shareholders will have to temper their short-term expectations concerning derivative sales, as Health Canada has pushed back the date of first delivers to mid-December 2018; originally initial sales was expected to come in mid-October. It will also be rolled out on a staggered basis, meaning it'll take some time to sell derivative products to the point of making a positive impact on the results of the company.For that reason investors will probably have to wait until the earnings report from the first calendar quarter of 2020 before seeing an impact from derivative products on the performance of OrganiGram.Its failed experimentEven though a number of companies failed in similar experiments, OrganiGram, for some reason, thought replicating it within their facilities may work. They were wrong.What the company attempted was called 'cloning,' which in the cannabis industry refers to cutting small parts of an existing plant and using it to produce plants instead of using seed. This is fairly common with some fruits, vegetables and herbs, outside of the sector.The difference here and within the cannabis sector, was the company took pieces of plants at an earlier stage of growth than normal.The company did use a smaller sample to try it out first, but when attempting to scale with more strains, the experiment failed.Consequently, growing costs soared almost 50 percent more in cash, having a negative impact on earnings, which in the last few quarters had been positive.All-in costs related to cultivation jumped from from C$0.65 and C$0.95 per gram in the prior quarter, to C$0.95 and C$1.29 per gram in the earnings period, according to MarketWatch.The time lost in the grow room impacted by the experiment was from "four to six weeks," said Engel.As for product mix, it sold 5,090 liters of cannabis oil and 3,926 kilograms of dried flower in the fiscal third quarter.Outlook for fiscal 2020Engal said the company expects to generate a record harvest in the first half of fiscal 2020 for its dried flower grown in its indoor facilities. It also sees positive growth catalysts coming from derivative products associated with edibles and vape pens.One thing investors in Canadian-based companies need to understand in order to manage short-term expectations, is Health Canada has pushed back the date derivative products in the country will be sold and distributed to mid-December. Initially it was set to launch in mid-October. It also said product approvals will be staggered, meaning it's going to take some time for all derivatives to be legally sold.I'm looking at the first calendar quarter as being the first one that will have any significant impact on the performance of OrganiGram, or any other cannabis company based in Canada.As for its existing business, its performance should align with guidance and expectations. Concerning additional revenue and earnings from derivatives, that's now further out.For investors not taking that into account, the company could appear to underperform over the next couple of quarters, when it's in fact something that is outside of its direct control.ConclusionOrganigram is getting close to finishing its Phase 4 production expansion, which when complete and fully operational, will boost its capacity to an annual run-rate of 113,000 kilograms. That should be completed by the end of 2019.Once it's ready to go, and the company is able to ramp up sales of higher-margin derivatives edibles and vapes, the company has a very visible path to growing revenue, margins and earnings going forward. It just needs to not get too cute with its experiments at such large levels.Finally, I also like its discipline on taking its time to enter international markets like the U.S., which I think some Canadian companies have prematurely entered, with the risk of legalization of recreational pot far from a surety, and scaling across the country still a significant challenge in other segments of the market.In the end, other than that temporary experiment blip and some issues in Ontario, the company appears to be on a upward growth trajectory that should reward shareholders nicely over time.To read more on the nitty gritty of what’s going on in the rising cannabis industry, click here. Read more: Organigram (OGI) Reported a Strong Quarter, But Don’t Buy the Stock Just Yet More recent articles from Smarter Analyst: * Billionaire Izzy Englander Cuts Loose in Amazon (AMZN) and Nio, Inc. (NIO) Stocks * These 3 Cannabis Stocks Are Hoping for a Turnaround * 3 ‘Strong Buy’ Stocks That Can Double in 2020 * Hedge Fund Legend Jim Simons Pours Money Into Aurora Cannabis (ACB) and Aphria (APHA) Stocks
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3 Cannabis Stocks Worth Considering for Your Portfolio
MediPharm Labs, Canopy Growth, and OrganiGram get some love from three of our contributors who cover the marijuana space.
- SmarterAnalyst
Organigram (OGI) Reported a Strong Quarter, But Don’t Buy the Stock Just Yet
With some cannabis industry players in disarray, Organigram (OGI) proved that a focus on reasonable operations is still the best path to rewarding shareholders.The stock has rallied over 17% this week following a solid FQ3’19 quarter and the company appears poised for more success. Whether or not the stock rallies back to previous highs near $8.50 is a far different story.Focused GrowthOrganigram is focused on domestic Canadian growth and the results are backing up this concept. The stock never got the wild valuations, but the FQ3 results are impressive considering that Canada isn’t producing the expected growth rates.The company saw FQ3 revenues dip to C$24.8 million from C$26.9 million or the equivalent of about $19.0 million. The numbers continue to suggest that demand in Canada is questionable due to the impacts of the thriving illegal market and lack of legal retail stores, but the company is thriving regardless.The reason the story works is that Organigram doesn’t need 10-fold production growth to meet operational costs. In the last quarter, the company only sold 3,926 kg of dried cannabis and 5,090 liters of oil.With only C$11.1 million in quarterly operating expenses, Organigram is able to overcome the cannabis market weakness from a lack of retail stores in Ontario and the delay in Cannabis 2.0 products. In addition, the focus on the right balance of production growth has cash costs under control during the ramp up phase.The company now has licensed capacity of 61,000 kg/yr with production capacity headed to 113,000 kg/yr by the end of 2019. With C$94.2 million in inventory, Organigram is taking the prudent move to reasonably expand production capability preparing the company for legitimate recreational cannabis growth in 2020.Positive EBITDA Instead of burning cash as the Canadian market slowly expands and chasing global markets not ready for commercialization, Organigram is focused on profitable growth. The company generated an incredible adjusted EBITDA profit of C$7.7 million in the last quarter or good enough for 30% EBITDA margins.The company is not focused purely on massive cultivation numbers and the results are paying off. The stock has a market valuation of ~$1 billion now so sales around $175 million for FY20 won’t offer much of a bargain for the stock in a sector where sentiment is frayed.Maintaining EBITDA margins in the 30%+ range will provide a boost to the stock as the year progresses. If FY20 EBITDA tops $50 million, the stock will eventually rally from higher EBITDA targets for FY21.TakeawayThe key investor takeaway is that Organigram Holdings is a prime example of prudent growth winning out in the end. The Canadian cannabis company has costs under control leaving the company not reliant on wild industry growth in order to survive and thrive like industry players with substantial EBITDA losses.Organigram likely outperforms the larger Canadian players with rich valuations, but the stock isn’t likely to see a big rally with the current negative sentiment in the sector. As cannabis-infused edibles and beverages hits the market at the end of 2019, the stock will likely offer a better entry point with a strong catalyst to rally than now.To read more on the nitty gritty of what’s going on in the rising cannabis industry, click here.Disclosure: No position. Read more: Does OrganiGram Rely Too Much on Recreational Cannabis? More recent articles from Smarter Analyst: * Billionaire Izzy Englander Cuts Loose in Amazon (AMZN) and Nio, Inc. (NIO) Stocks * These 3 Cannabis Stocks Are Hoping for a Turnaround * 3 ‘Strong Buy’ Stocks That Can Double in 2020 * Hedge Fund Legend Jim Simons Pours Money Into Aurora Cannabis (ACB) and Aphria (APHA) Stocks
- InvestorPlace
3 Reasons Linton’s Firing was Good News for Canopy Stock
When it comes to the cannabis industry, the only real debate seems to be around how big it's going to get. Modest estimations put the industry at $40 billion by 2024. And there are few cannabis companies that catch the eye of investors quite like CGC stock.Source: Shutterstock But Canopy Growth (NYSE:CGC) hit a snag last week after it came out that the former CEO and co-founder Bruce Linton was fired. The company issued a press release saying that Linton has stepped down from his role as CEO and from the Board of Directors. Then in an interview with CNBC, Linton revealed that he was fired.Many investors were surprised to learn that Linton was let go, but this doesn't change the fundamentals of the company. Canopy Growth is still one of the most valuable cannabis stocks in Canada. Here are three reasons why Linton's firing was good news for CGC stock:InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Numbers Just Weren't ThereLinton did many things right during his run at Canopy. He secured a $4 billion investment from Constellation Brands (NYSE:STZ) and oversaw a number of important acquisitions. * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip However, when Constellation Brands made this investment, it earned a 37% stake in the company. It also earned the right to nominate four members to the six-member board. And when Canopy Growth reported losses of C$98 million during its fiscal fourth quarter, this hurt Constellation's bottom line as well. According to Constellation's fiscal first-quarter results, the company reported losses of $54.4 million tied to Canopy Growth. Going forward, Constellation Brands will likely find a replacement that is more interested in improving Canopy's bottom line. CGC Stock Is Ready for New LeadershipCanopy's recent financial performance probably had a lot to do with Linton's firing. But the company may also be looking to transition to new leadership, which isn't uncommon for a maturing company. After all, it takes a different skillset to build a company than it does to run a billion-dollar global brand. According to the press release, Mark Zekulin will act as sole CEO of the company while the board looks for outside leadership. This seems to indicate the company is looking for a new leader going forward, not Zekulin or another co-CEO. The company needs to prove it can find the right person to build on Canopy's momentum going forward. The Cannabis Industry Is ChangingLinton's firing will result in a major leadership change going forward. The change caught most investors off guard and the company's shares dropped roughly 5% that day. However, the stock quickly rebounded. After all, Linton is not the first CEO to be ousted from a cannabis company he founded. Aphria (NYSE:APHA), CannTrust Holdings (NYSE:CTST), and Organigram Holdings (NASDAQ:OGI) all replaced their original CEOs with more seasoned management.The cannabis industry as a whole is changing as it moves from its entrepreneurial beginnings to becoming a major consumer products industry. As the industry continues to change, investors will begin holding these companies to a different standard where profitability is the biggest determination of success. As of this writing, Jamie Johnson did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip * 7 Services Stocks to Buy for the Rest of 2019 * 6 Stocks to Buy and 1 to Sell Based on Insider Trading The post 3 Reasons Lintonas Firing was Good News for Canopy Stock appeared first on InvestorPlace.
- Motley Fool
Cultivation and Product Expansion Take Focus as OrganiGram Reports a Modest Third-Quarter Loss
OrganiGram remains on track to complete its Moncton campus by year's end, and is eagerly awaiting the launch of derivative cannabis products in December.
- MarketWatch
Failed marijuana experiment slams Organigram earnings
Organigram Holdings Inc. said Monday that growing marijuana cost it nearly 50% more in cash and harmed its earnings last quarter because the cannabis company tried — and failed — to develop a more efficient growing technique.
- Motley Fool
After Hours: CBS and Viacom Apparently Set a Date, OrganiGram Nixes Experiment
The looming merger in big entertainment seemingly has a deadline, and a big reason for a marijuana stock's quarterly loss is revealed.
- Investor's Business Daily
Marijuana Stocks Rise Despite Organigram Loss; Aurora Cannabis Lands Cultivation Licenses
Organigram earnings missed Q3 views. Aurora Cannabis got two new cultivation licenses. Organigram, Aurora and other marijuana stocks rose.
