Thursday, April 02, 2020 9:17:17 AM
OrganiGram May Underperform Broader Cannabis Market In Q2, Says Cantor Fitzgerald
1:41 pm ET April 1,
OrganiGram Holdings Inc (NASDAQ: OGI) is scheduled to report second-quarter results before the market opens on April 14.
Although the quarterly results are unlikely to be a near-term catalyst for the stock, the company is among the better-managed licensed producers of cannabis and is profitable, according to Cantor Fitzgerald.
The OrganiGram Analyst
Pablo Zuanic maintained an Overweight on OrganiGram Holdings and reduced the price target from CA$9 ($6.32) to CA$5.80 ($4.07).
The OrganiGram Thesis
The overall recreational cannabis market is likely to have generated more than 8% sequential sales growth in February, implying total market growth of 21% for the February quarter, Zuanic said in a Wednesday note. (See his track record here.)
Yet OrganiGram is unlikely to post this kind of sequential growth in the second quarter in light of the company’s sales growth in recreational cannabis in the prior quarter, the analyst said.
In the November quarter, OrganiGram’s sales of recreational cannabis declined by 4% and the company’s overall sales growth was driven by the wholesale business, which generated $9.2 million in sales, he said.
Zuanic said he expects OrganiGram’s margins to be under pressure due to a higher marketing spend and start-up costs related to its new product lines.
The company is approaching positive operating cash flow and its stock valuation is attractive, according to Cantor Fitzgerald. to News Results
OrganiGram May Underperform Broader Cannabis Market In Q2, Says Cantor F
Recent OGI News
- Form SC 13D/A - General Statement of Acquisition of Beneficial Ownership: [Amend] • Edgar (US Regulatory) • 09/03/2024 01:30:26 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/03/2024 01:29:42 PM
- Organigram Closes Second Tranche of Previously Announced BAT Private Placement Investment • Business Wire • 09/03/2024 10:00:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/13/2024 11:25:59 AM
- Organigram Reports Third Quarter Fiscal 2024 Results • Business Wire • 08/13/2024 10:30:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/07/2024 03:19:22 PM
- Organigram Product Development Collaboration Completes Landmark Clinical Study on Nanoemulsion Technology • Business Wire • 08/07/2024 10:00:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/06/2024 02:32:27 PM
- Organigram to Report Third Quarter Fiscal 2024 Results on August 13, 2024 • Business Wire • 08/06/2024 10:00:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/29/2024 03:20:28 PM
- Organigram Announces Appointment of Craig Harris to Board of Directors • Business Wire • 07/29/2024 10:00:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/24/2024 09:06:57 PM
- Organigram to Bolster Auto-Flower and Rare Cannabinoid Portfolio with Partial Third Tranche Investment of US $1M into Phylos • Business Wire • 07/24/2024 10:00:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/12/2024 07:13:48 PM
- Organigram investe in Sanity Group, società leader tedesca nel settore della cannabis • Business Wire • 06/26/2024 01:15:00 PM
- Organigram investiert in Sanity Group, ein führendes deutsches Cannabisunternehmen • Business Wire • 06/26/2024 01:15:00 PM
- Organigram investit dans Sanity Group, un chef de file du cannabis en Allemagne • Business Wire • 06/26/2024 01:15:00 PM
- Organigram Invests in Sanity Group, a Leading German Cannabis Company • Business Wire • 06/25/2024 12:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/28/2024 01:38:30 PM
- Organigram Signs Three Year Supply Agreement with Avida Medical in UK • Business Wire • 05/28/2024 10:00:00 AM
- US Futures Remain Steady Amid Wall Street Caution Ahead of April PPI Report • IH Market News • 05/14/2024 11:18:01 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/14/2024 11:17:16 AM
- Organigram Reports Second Quarter Fiscal 2024 Results • Business Wire • 05/14/2024 10:00:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/08/2024 03:29:51 PM
- Organigram to Report Second Quarter Fiscal 2024 Results on May 14, 2024 • Business Wire • 05/08/2024 12:00:00 PM
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