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

Flora Growth Corp. (NASDAQ:FLGC) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 142,100 shares, an increase of 21.6% from the August 15th total of 116,900 shares. Based on an average daily volume of 72,400 shares, the short-interest ratio is currently 2.0 days. Approximately 1.4% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

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

Institutional Trading of Flora Growth

An institutional investor recently raised its position in Flora Growth stock. Renaissance Technologies LLC lifted its stake in shares of Flora Growth Corp. (NASDAQ:FLGC) by 105.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 159,595 shares of the company’s stock after acquiring an additional 81,982 shares during the quarter. Renaissance Technologies LLC owned about 1.19% of Flora Growth worth $163,000 at the end of the most recent reporting period. Institutional investors own 36.01% of the company’s stock.

Flora Growth Trading Up 4.1 %

Shares of FLGC traded up $0.04 during midday trading on Friday, hitting $0.97. 49,687 shares of the stock traded hands, compared to its average volume of 357,330. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.79 and a current ratio of 1.16. Flora Growth has a 1-year low of $0.63 and a 1-year high of $2.93. The business’s 50 day moving average price is $1.01 and its two-hundred day moving average price is $1.27.

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

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.