Flora Growth Corp. (NASDAQ:FLGC) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in Flora Growth Corp. (NASDAQ:FLGC) by 66.2% in the 4th quarter, HoldingsChannel reports. The fund owned 988,368 shares of the company’s stock after acquiring an additional 393,780 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.12% of Flora Growth worth $1,334,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Armistice Capital LLC acquired a new stake in shares of Flora Growth during the 3rd quarter worth $519,000. Renaissance Technologies LLC increased its holdings in shares of Flora Growth by 61.1% during the 4th quarter. Renaissance Technologies LLC now owns 452,700 shares of the company’s stock worth $103,000 after buying an additional 171,700 shares during the last quarter. MML Investors Services LLC acquired a new stake in shares of Flora Growth during the 3rd quarter worth $34,000. Citadel Advisors LLC acquired a new stake in shares of Flora Growth during the 2nd quarter worth $212,000. Finally, Millennium Management LLC acquired a new stake in shares of Flora Growth during the 2nd quarter worth $260,000. 36.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Flora Growth

In related news, CEO Clifford Starke purchased 526,315 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was purchased at an average cost of $1.90 per share, for a total transaction of $999,998.50. Following the acquisition, the chief executive officer now owns 565,714 shares in the company, valued at $1,074,856.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Roth Mkm upped their price objective on Flora Growth to $7.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd.

Flora Growth Stock Down 7.1 %

Shares of NASDAQ FLGC opened at $1.56 on Monday. Flora Growth Corp. has a 12-month low of $0.63 and a 12-month high of $5.48. The company has a market cap of $16.68 million, a P/E ratio of -0.16 and a beta of 1.92. The company has a current ratio of 1.31, a quick ratio of 0.79 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average price of $1.47 and a 200 day moving average price of $1.25.

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.