Flora Growth (NASDAQ:FLGC) Trading Up 13.5% – Still a Buy?

Shares of Flora Growth Corp. (NASDAQ:FLGC) traded up 13.5% during trading on Tuesday . The company traded as high as $0.90 and last traded at $0.88. 270,430 shares traded hands during mid-day 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 assumed coverage on shares of Flora Growth in a research report on Monday, November 25th. They issued a “buy” rating and a $4.00 target price for the company.

Flora Growth Stock Performance

The business’s 50 day moving average price is $1.15 and its two-hundred day moving average price is $1.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.64 and a current ratio of 1.02.

Institutional Investors Weigh In On Flora Growth

An institutional investor recently bought a new position in Flora Growth stock. XTX Topco Ltd bought a new position in Flora Growth Corp. (NASDAQ:FLGC) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 18,070 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned 0.14% of Flora Growth at the end of the most recent reporting period. 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.