Orgenesis Inc ORGS shares are trading lower by 21% to 40 cents during Monday’s session after the company announced that its Board of Directors has approved a 1-for-10 reverse stock split, effective at 5:00 pm ET on September 24.
Orgenesis says this move aims to meet Nasdaq’s minimum $1.00 bid price requirement. The stock will continue trading under the symbol “ORGS” on a split-adjusted basis starting September 25.
The reverse split will reduce the number of outstanding shares from 47.7 million to approximately 4.77 million, while stockholders’ ownership percentages remain unchanged.
The company also announced that fractional shares will be paid out in cash based on the closing price on September 24.
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Should I Sell My ORGS Stock?
When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.
Shares of Orgenesis have decreased by 29.34% in the past year. An investor who bought shares of Orgenesis at the beginning of the year would take a loss of $0.05 per share if they sold it today. The stock has fallen 37.67% over the past month, meaning an investor who bought shares on Aug. 1 would see a capital loss of $0.33.
Orgenesis shares have an all-time high of $5.02, representing 1045.86% upside from current levels.
According to data from Benzinga Pro, ORGS has a 52-week high of $1.08 and a 52-week low of $0.25.
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