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

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

Flora Growth Trading Down 0.5 %

NASDAQ FLGC traded down $0.00 during trading on Tuesday, reaching $0.66. 80,383 shares of the company traded hands, compared to its average volume of 443,263. Flora Growth has a 1-year low of $0.59 and a 1-year high of $2.93. 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 stock’s 50 day moving average price is $0.83 and its two-hundred day moving average price is $1.19.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Flora Growth

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLGC. AdvisorShares Investments LLC bought a new position in Flora Growth during the 4th quarter worth about $73,000. Geode Capital Management LLC grew its stake in Flora Growth by 23.3% during the fourth quarter. Geode Capital Management LLC now owns 130,934 shares of the company’s stock worth $135,000 after buying an additional 24,713 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Flora Growth during the fourth quarter worth $43,000. Finally, XTX Topco Ltd acquired a new position in shares of Flora Growth in the third quarter worth approximately $28,000. Institutional investors own 36.01% of the company’s stock.

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.