Flora Growth’s (FLGC) “Neutral” Rating Reaffirmed at Alliance Global Partners

Flora Growth (NASDAQ:FLGC)‘s stock had its “neutral” rating reissued by Alliance Global Partners in a research note issued to investors on Thursday, Benzinga reports.

Separately, Roth Mkm reissued a “buy” rating and set a $6.00 target price (down from $7.00) on shares of Flora Growth in a report on Thursday, May 16th.

Flora Growth Stock Performance

FLGC traded up $0.00 on Thursday, reaching $0.92. The stock had a trading volume of 38,514 shares, compared to its average volume of 396,806. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.65. Flora Growth has a fifty-two week low of $0.63 and a fifty-two week high of $5.48. The firm has a 50-day moving average of $1.03 and a 200-day moving average of $1.27.

Flora Growth (NASDAQ:FLGC) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The firm had revenue of $18.03 million during the quarter, compared to analyst estimates of $19.04 million. Flora Growth had a negative net margin of 75.95% and a negative return on equity of 144.44%. Analysts expect that Flora Growth will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Flora Growth stock. Renaissance Technologies LLC raised its position in Flora Growth Corp. (NASDAQ:FLGC) by 105.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 159,595 shares of the company’s stock after purchasing an additional 81,982 shares during the period. Renaissance Technologies LLC owned 1.19% of Flora Growth worth $163,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 36.01% of the company’s stock.

About Flora Growth

Flora Growth Corp., together with its subsidiaries, engages in the growth, cultivation, and development of medicinal cannabis and medicinal cannabis derivative products worldwide. It operates through three segments: House of Brands, Commercial and Wholesale, and Pharmaceuticals. The company cultivates, processes, and supplies medicinal-grade cannabis flower, and cannabis derived medical and wellness products.