Flora Growth Corp. (NASDAQ:FLGC) Short Interest Update

Flora Growth Corp. (NASDAQ:FLGC) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 901,000 shares, an increase of 325.0% from the October 15th total of 212,000 shares. Approximately 9.7% of the shares of the company are short sold. Based on an average trading volume of 293,400 shares, the short-interest ratio is presently 3.1 days.

Flora Growth Trading Down 0.8 %

Shares of FLGC stock traded down $0.01 during trading hours on Tuesday, reaching $1.18. The stock had a trading volume of 426,442 shares, compared to its average volume of 372,919. The firm has a 50-day simple moving average of $1.44 and a 200-day simple moving average of $1.24. The company has a quick ratio of 0.79, a current ratio of 1.16 and a debt-to-equity ratio of 0.29. Flora Growth has a twelve month low of $0.70 and a twelve month high of $2.93.

Flora Growth (NASDAQ:FLGC) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.17). The company had revenue of $15.68 million during the quarter, compared to analyst estimates of $20.74 million. Flora Growth had a negative return on equity of 161.06% and a negative net margin of 21.56%. Sell-side analysts anticipate that Flora Growth will post -0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Flora Growth stock. Renaissance Technologies LLC lifted its position in Flora Growth Corp. (NASDAQ:FLGC) by 105.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 159,595 shares of the company’s stock after buying an additional 81,982 shares during the period. Renaissance Technologies LLC owned approximately 1.19% of Flora Growth worth $163,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 36.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.