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OrganiGram (OGI) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, OrganiGram (OGI - Free Report) closed at $4.40, marking a -0.9% move from the previous day. This change lagged the S&P 500's daily gain of 0.65%. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 1.05%.
Prior to today's trading, shares of the cannabis producer had gained 20.98% over the past month. This has outpaced the Medical sector's loss of 5.04% and the S&P 500's gain of 0.36% in that time.
OGI will be looking to display strength as it nears its next earnings release. On that day, OGI is projected to report earnings of -$0.04 per share, which would represent a year-over-year decline of 100%. Meanwhile, our latest consensus estimate is calling for revenue of $16.6 million, down 4.11% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.18 per share and revenue of $74.18 million, which would represent changes of -125% and +14.97%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for OGI. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 12.47% lower within the past month. OGI is currently a Zacks Rank #4 (Sell).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 152, putting it in the bottom 41% 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.
To follow OGI in the coming trading sessions, be sure to utilize Zacks.com.
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OrganiGram (OGI) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, OrganiGram (OGI - Free Report) closed at $4.40, marking a -0.9% move from the previous day. This change lagged the S&P 500's daily gain of 0.65%. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 1.05%.
Prior to today's trading, shares of the cannabis producer had gained 20.98% over the past month. This has outpaced the Medical sector's loss of 5.04% and the S&P 500's gain of 0.36% in that time.
OGI will be looking to display strength as it nears its next earnings release. On that day, OGI is projected to report earnings of -$0.04 per share, which would represent a year-over-year decline of 100%. Meanwhile, our latest consensus estimate is calling for revenue of $16.6 million, down 4.11% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.18 per share and revenue of $74.18 million, which would represent changes of -125% and +14.97%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for OGI. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 12.47% lower within the past month. OGI is currently a Zacks Rank #4 (Sell).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 152, putting it in the bottom 41% 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.
To follow OGI in the coming trading sessions, be sure to utilize Zacks.com.