Short Interest in Flora Growth Corp. (NASDAQ:FLGC) Drops By 18.3%

Flora Growth Corp. (NASDAQ:FLGC) was the target of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 617,700 shares, a decrease of 18.3% from the February 13th total of 755,900 shares. Based on an average daily volume of 453,600 shares, the short-interest ratio is presently 1.4 days. Currently, 4.9% of the shares of the company are sold short.

Flora Growth Stock Performance

Shares of Flora Growth stock traded down $0.02 during trading hours on Wednesday, reaching $0.65. The company had a trading volume of 78,035 shares, compared to its average volume of 441,808. Flora Growth has a one year low of $0.59 and a one year high of $2.93. The business has a fifty day simple moving average of $0.83 and a 200 day simple moving average of $1.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.02 and a quick ratio of 0.64.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Flora Growth

Large investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new position in shares of Flora Growth in the third quarter worth $28,000. Geode Capital Management LLC boosted its holdings in shares of Flora Growth by 23.3% in the fourth quarter. Geode Capital Management LLC now owns 130,934 shares of the company’s stock worth $135,000 after acquiring an additional 24,713 shares during the period. AdvisorShares Investments LLC purchased a new stake in shares of Flora Growth in the fourth quarter worth $73,000. Finally, Virtu Financial LLC purchased a new stake in shares of Flora Growth in the fourth quarter worth $43,000. 36.01% of the stock is owned by institutional investors.

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.