Is OrganiGram a Buy After Almost Breaking Even in Q1?
Shares of OrganiGram Holdings (NASDAQ: OGI) have been surging since the company released its first-quarter results earlier this month. News of the company beating the top end of analyst projections propelled the stock up by 50% the day the results were released. And while the stock has come down a bit since then, OrganiGram is already up over 25% in 2020, well above the Horizons Marijuana Life Sciences ETF, which has risen a more modest 11%.
Now that the dust has settled, let's take a closer look at OrganiGram's impressive results to see whether or not the stock is a buy today.
In Q1, the company's net revenue of 25.2 million Canadian dollars came in at more than double the CA$12.4 million OrganiGram recorded in the prior-year quarter. What was perhaps just as impressive was that the company also came very close to breaking even this past quarter, recording a loss of just CA$863,000.
Source Fool.com
