Organogenesis Holdings Inc. (NASDAQ:ORGO – Get Rating) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 5,740,000 shares, a decline of 17.5% from the September 15th total of 6,960,000 shares. Based on an average daily volume of 1,090,000 shares, the days-to-cover ratio is presently 5.3 days. Approximately 9.0% of the company’s stock are short sold.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. BTIG Research cut their price target on shares of Organogenesis to $13.00 in a report on Monday, August 15th. Oppenheimer lowered shares of Organogenesis from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 10th.
Organogenesis Stock Performance
ORGO stock traded down $0.08 during mid-day trading on Friday, hitting $3.20. The company had a trading volume of 573,948 shares, compared to its average volume of 978,205. The firm has a market cap of $418.85 million, a PE ratio of 5.82 and a beta of 1.79. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.36 and a current ratio of 2.62. Organogenesis has a 12 month low of $3.07 and a 12 month high of $12.30. The stock’s fifty day moving average price is $3.78 and its two-hundred day moving average price is $5.23.
Organogenesis (NASDAQ:ORGO – Get Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The business had revenue of $121.40 million for the quarter, compared to analyst estimates of $121.00 million. Organogenesis had a net margin of 15.83% and a return on equity of 34.04%. On average, analysts forecast that Organogenesis will post 0.22 earnings per share for the current fiscal year.
Institutional Trading of Organogenesis
Hedge funds and other institutional investors have recently modified their holdings of the business. Cutler Group LP raised its position in shares of Organogenesis by 114.0% in the first quarter. Cutler Group LP now owns 3,500 shares of the company’s stock valued at $26,000 after purchasing an additional 28,500 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of Organogenesis by 80.1% in the first quarter. Ameritas Investment Partners Inc. now owns 5,386 shares of the company’s stock valued at $41,000 after purchasing an additional 2,396 shares during the period. KBC Group NV bought a new stake in shares of Organogenesis in the second quarter valued at approximately $27,000. Point72 Hong Kong Ltd raised its position in shares of Organogenesis by 245.7% in the second quarter. Point72 Hong Kong Ltd now owns 6,015 shares of the company’s stock valued at $29,000 after purchasing an additional 4,275 shares during the period. Finally, Lazard Asset Management LLC raised its position in shares of Organogenesis by 3,808.2% in the first quarter. Lazard Asset Management LLC now owns 9,106 shares of the company’s stock valued at $69,000 after purchasing an additional 8,873 shares during the period. Institutional investors own 44.55% of the company’s stock.
Organogenesis Company Profile
Organogenesis Holdings Inc, a regenerative medicine company develops, manufactures, and commercializes solutions for the advanced wound care, and surgical and sports medicine markets in the United States. The company’s advanced wound care products include Affinity, an amniotic membrane wound covering in which viable cells growth factors/cytokines, and ECM proteins in the native tissue are preserved; Apligraf, a bioengineered living cell therapy that produce spectrum of cytokines and growth factors; Dermagraft, a bioengineered product that produces human collagen, ECM, proteins, and cytokines; NuShield, a wound covering tissue includes both amnion and chorion membranes for spongy/intermediate layer intact; PuraPly , a antimicrobial barrier that enables conformability and fluid drainage; and Novachor, an amniotic membrane wound covering in which viable cells, growth factors/cytokines, and ECM proteins are preserved.
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Read More: Short Interest in Organogenesis Holdings Inc. (NASDAQ:ORGO) Drops By 17.5%