Flora Growth (NASDAQ:FLGC) Announces Earnings Results

Flora Growth (NASDAQ:FLGC) released its quarterly earnings data on Monday. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.31), Zacks reports. Flora Growth had a negative net margin of 30.99% and a negative return on equity of 268.17%.

Flora Growth Stock Performance

FLGC stock traded up $0.04 during mid-day trading on Monday, hitting $0.66. 91,166 shares of the company were exchanged, compared to its average volume of 436,485. Flora Growth has a 1-year low of $0.59 and a 1-year high of $2.93. The business has a 50 day simple moving average of $0.81 and a 200-day simple moving average of $1.18. The company has a current ratio of 1.02, a quick ratio of 0.64 and a debt-to-equity ratio of 0.43.

Analyst Ratings Changes

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

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.