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

Flora Growth Corp. (NASDAQ:FLGC) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 1,030,000 shares, a growth of 155.2% from the November 30th total of 403,600 shares. Approximately 12.9% of the shares of the company are short sold. Based on an average daily trading volume, of 590,200 shares, the days-to-cover ratio is currently 1.7 days.

Wall Street Analysts Forecast Growth

Separately, Aegis started coverage on Flora Growth in a report on Monday, November 25th. They issued a “buy” rating and a $4.00 target price for the company.

Flora Growth Stock Down 8.1 %

Shares of NASDAQ FLGC opened at $1.02 on Friday. The company’s 50 day simple moving average is $1.43 and its 200 day simple moving average is $1.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.64 and a current ratio of 1.02. Flora Growth has a fifty-two week low of $0.75 and a fifty-two week high of $2.93.

Institutional Trading of Flora Growth

A hedge fund recently raised its position in Flora Growth stock. Renaissance Technologies LLC boosted its holdings in shares of Flora Growth Corp. (NASDAQ:FLGC) by 105.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 159,595 shares of the company’s stock after acquiring an additional 81,982 shares during the period. Renaissance Technologies LLC owned approximately 1.19% of Flora Growth worth $163,000 as of its most recent filing with the Securities and Exchange Commission. 36.01% of the stock is currently owned by hedge funds and other institutional investors.

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.