Aegis Initiates Coverage on Flora Growth (NASDAQ:FLGC)

Aegis initiated coverage on shares of Flora Growth (NASDAQ:FLGC) in a research report report published on Monday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $4.00 price target 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 5.6 %

Shares of NASDAQ FLGC opened at $1.51 on Monday. The company has a quick ratio of 0.64, a current ratio of 1.02 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 firm’s 50-day moving average is $1.50 and its 200-day moving average is $1.22.

Institutional Trading of Flora Growth

A hedge fund recently raised its stake in Flora Growth stock. Renaissance Technologies LLC lifted its position in Flora Growth Corp. (NASDAQ:FLGC) by 105.6% during the second quarter, according to its most recent 13F filing 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 period. Renaissance Technologies LLC owned approximately 1.19% of Flora Growth worth $163,000 at the end of the most recent quarter. 36.01% of the stock is currently owned by hedge funds and other 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.