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

Flora Growth Corp. (NASDAQ:FLGC) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 212,000 shares, an increase of 43.7% from the September 30th total of 147,500 shares. Based on an average daily trading volume, of 181,800 shares, the short-interest ratio is currently 1.2 days. Currently, 2.3% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Flora Growth

A hedge fund recently raised its stake in Flora Growth stock. Renaissance Technologies LLC boosted its holdings in Flora Growth Corp. (NASDAQ:FLGC) by 105.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC. 36.01% of the stock is currently owned by hedge funds and other institutional investors.

Flora Growth Stock Down 4.0 %

Shares of FLGC traded down $0.08 on Tuesday, reaching $1.90. The company’s stock had a trading volume of 327,851 shares, compared to its average volume of 356,766. 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 12-month low of $0.68 and a 12-month high of $2.93. The stock’s 50 day simple moving average is $1.37 and its two-hundred day simple moving average is $1.25.

Flora Growth (NASDAQ:FLGC) last issued its earnings results on Monday, August 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.17). Flora Growth had a negative return on equity of 161.06% and a negative net margin of 21.56%. The business had revenue of $15.68 million for the quarter, compared to the consensus estimate of $20.74 million. As a group, equities research analysts anticipate 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.