Flora Growth Corp. (NASDAQ:FLGC) Short Interest Update

Flora Growth Corp. (NASDAQ:FLGC) was the recipient of a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 22,719 shares, a drop of 49.5% from the December 31st total of 45,021 shares. Based on an average trading volume of 19,533 shares, the short-interest ratio is currently 1.2 days. Approximately 2.2% of the shares of the company are short sold. Approximately 2.2% of the shares of the company are short sold. Based on an average trading volume of 19,533 shares, the short-interest ratio is currently 1.2 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Flora Growth stock. Geode Capital Management LLC lifted its holdings in Flora Growth Corp. (NASDAQ:FLGC) by 1.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,572 shares of the company’s stock after purchasing an additional 3,015 shares during the quarter. Geode Capital Management LLC owned about 29.16% of Flora Growth worth $98,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 36.01% of the company’s stock.

Flora Growth Price Performance

Shares of Flora Growth stock traded down $0.32 during trading hours on Friday, reaching $11.48. The company’s stock had a trading volume of 110,442 shares, compared to its average volume of 122,899. The stock has a market cap of $12.01 million, a P/E ratio of -0.35 and a beta of 1.90. Flora Growth has a one year low of $5.86 and a one year high of $47.00. The firm has a 50 day moving average price of $7.87 and a 200-day moving average price of $15.06.

Flora Growth (NASDAQ:FLGC) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($4.93) earnings per share for the quarter, missing the consensus estimate of ($2.13) by ($2.80). Flora Growth had a negative net margin of 32.03% and a negative return on equity of 64.02%. The company had revenue of $9.75 million for the quarter, compared to analysts’ expectations of $12.50 million. As a group, sell-side analysts forecast that Flora Growth will post -0.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FLGC shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Flora Growth in a research report on Thursday, January 22nd. Wall Street Zen upgraded Flora Growth from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $30.00.

Flora Growth Company Profile

Flora Growth Corp (NASDAQ: FLGC) is a vertically integrated cannabis and hemp company engaged in the cultivation, extraction, formulation and distribution of cannabinoid-based products. Its portfolio encompasses a broad range of offerings, including oils, vape cartridges, edibles, topicals and patent-pending delivery systems designed for both medical and wellness applications.

Founded in 2018, Flora Growth has established cultivation and processing operations in Uruguay’s greenhouse hubs, complemented by extraction and formulation laboratories in Florida.