Flora Growth (NASDAQ:FLGC) Trading 13.5% Higher – Time to Buy?

Flora Growth Corp. (NASDAQ:FLGC)’s stock price traded up 13.5% on Tuesday . The stock traded as high as $0.90 and last traded at $0.88. 270,430 shares were traded during trading, an increase of 30% from the average session volume of 207,748 shares. The stock had previously closed at $0.78.

Analysts Set New Price Targets

Separately, Aegis began coverage on shares of Flora Growth in a research note on Monday, November 25th. They issued a “buy” rating and a $4.00 price target on the stock.

Flora Growth Stock Up 13.5 %

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.02 and a quick ratio of 0.64. The business’s fifty day moving average is $1.15 and its two-hundred day moving average is $1.23.

Institutional Investors Weigh In On Flora Growth

A hedge fund recently bought a new stake in Flora Growth stock. XTX Topco Ltd purchased a new position in Flora Growth Corp. (NASDAQ:FLGC) during the third quarter, according to its most recent 13F filing 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 about 0.14% of Flora Growth at the end of the most recent reporting period. Institutional investors and hedge funds own 36.01% of the company’s stock.

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.