Aegis Begins Coverage on Flora Growth (NASDAQ:FLGC)

Aegis assumed coverage on shares of Flora Growth (NASDAQ:FLGC) in a research note issued to investors on Monday, MarketBeat.com reports. The firm issued a buy rating and a $4.00 target price on the stock.

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

Flora Growth Trading Up 1.3 %

Shares of FLGC stock opened at $1.57 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.64 and a debt-to-equity ratio of 0.43. Flora Growth has a 1 year low of $0.75 and a 1 year high of $2.93. The stock has a fifty day moving average of $1.52 and a two-hundred day moving average of $1.22.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Flora Growth stock. Renaissance Technologies LLC raised its holdings in Flora Growth Corp. (NASDAQ:FLGC) by 105.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 159,595 shares of the company’s stock after acquiring an additional 81,982 shares during the quarter. Renaissance Technologies LLC owned 1.19% of Flora Growth worth $163,000 as of its most recent filing with the Securities and Exchange Commission. 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.