Aegis Initiates Coverage on Flora Growth (NASDAQ:FLGC)

Aegis began coverage on shares of Flora Growth (NASDAQ:FLGC) in a research note issued to investors on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $4.00 target price on the stock.

Separately, Alliance Global Partners reiterated a “neutral” rating on shares of Flora Growth in a report on Thursday, August 15th.

Flora Growth Stock Up 1.3 %

Shares of Flora Growth stock opened at $1.57 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.64 and a current ratio of 1.02. The business has a 50-day moving average of $1.51 and a two-hundred day moving average of $1.22. Flora Growth has a 1 year low of $0.75 and a 1 year high of $2.93.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Flora Growth stock. XTX Topco Ltd purchased a new position in shares of Flora Growth Corp. (NASDAQ:FLGC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 18,070 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned approximately 0.14% of Flora Growth as of its most recent SEC filing. 36.01% of the stock is currently owned by institutional investors and hedge funds.

Flora Growth Company Profile

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.