Flora Growth Corp. (NASDAQ:FLGC) Short Interest Up 75.1% in December

Flora Growth Corp. (NASDAQ:FLGC) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totaling 47,185 shares, a growth of 75.1% from the November 30th total of 26,948 shares. Approximately 6.5% of the company’s stock are short sold. Based on an average trading volume of 63,830 shares, the days-to-cover ratio is currently 0.7 days. Based on an average trading volume of 63,830 shares, the days-to-cover ratio is currently 0.7 days. Approximately 6.5% of the company’s stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Flora Growth stock. Geode Capital Management LLC lifted its holdings in shares of Flora Growth Corp. (NASDAQ:FLGC) by 1.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 168,572 shares of the company’s stock after purchasing an additional 3,015 shares during the quarter. Geode Capital Management LLC owned about 29.16% of Flora Growth worth $98,000 as of its most recent filing with the Securities and Exchange Commission. 36.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FLGC has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Flora Growth in a research report on Wednesday, October 8th. Wall Street Zen lowered Flora Growth from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.00.

Flora Growth Trading Down 5.8%

Shares of NASDAQ:FLGC opened at $6.86 on Tuesday. The company has a market cap of $5.14 million, a PE ratio of -0.21 and a beta of 1.89. Flora Growth has a twelve month low of $6.57 and a twelve month high of $47.00. The company’s 50 day moving average is $9.04 and its 200 day moving average is $18.00.

Flora Growth (NASDAQ:FLGC) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($4.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.13) by ($2.80). The firm had revenue of $9.75 million during the quarter, compared to analysts’ expectations of $12.50 million. Flora Growth had a negative net margin of 32.03% and a negative return on equity of 64.02%. Equities research analysts predict that Flora Growth will post -0.93 earnings per share for the current fiscal year.

Flora Growth Company Profile

Flora Growth Corp (NASDAQ: FLGC) is a vertically integrated cannabis and hemp company engaged in the cultivation, extraction, formulation and distribution of cannabinoid-based products. Its portfolio encompasses a broad range of offerings, including oils, vape cartridges, edibles, topicals and patent-pending delivery systems designed for both medical and wellness applications.

Founded in 2018, Flora Growth has established cultivation and processing operations in Uruguay’s greenhouse hubs, complemented by extraction and formulation laboratories in Florida.