Short Interest in Flora Growth Corp. (NASDAQ:FLGC) Drops By 18.3%

Flora Growth Corp. (NASDAQ:FLGC) was the recipient of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 617,700 shares, a decrease of 18.3% from the February 13th total of 755,900 shares. Approximately 4.9% of the company’s stock are sold short. Based on an average trading volume of 453,600 shares, the short-interest ratio is currently 1.4 days.

Wall Street Analysts Forecast Growth

Separately, Aegis started coverage on Flora Growth in a report on Monday, November 25th. They issued a “buy” rating and a $4.00 price objective for the company.

Flora Growth Stock Down 0.5 %

NASDAQ FLGC traded down $0.00 during trading hours on Tuesday, reaching $0.66. The company’s stock had a trading volume of 80,383 shares, compared to its average volume of 443,263. The company has a quick ratio of 0.64, a current ratio of 1.02 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $0.83 and its 200-day moving average price is $1.19. Flora Growth has a 1 year low of $0.59 and a 1 year high of $2.93.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLGC. XTX Topco Ltd purchased a new position in Flora Growth during the 3rd quarter valued at $28,000. Virtu Financial LLC purchased a new stake in Flora Growth in the fourth quarter valued at about $43,000. AdvisorShares Investments LLC acquired a new stake in shares of Flora Growth during the fourth quarter worth $73,000. Finally, Geode Capital Management LLC grew its stake in Flora Growth by 23.3% during the 4th quarter. Geode Capital Management LLC now owns 130,934 shares of the company’s stock valued at $135,000 after purchasing an additional 24,713 shares during the last quarter. Hedge funds and other institutional investors 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.