Wall Street Zen Upgrades Flora Growth (NASDAQ:FLGC) to “Hold”

Flora Growth (NASDAQ:FLGC) was upgraded by equities research analysts at Wall Street Zen to a “hold” rating in a note issued to investors on Friday.

Separately, Roth Capital set a $30.00 target price on Flora Growth and gave the company a “buy” rating in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, Flora Growth presently has an average rating of “Buy” and an average price target of $93.00.

Flora Growth Price Performance

Shares of NASDAQ FLGC opened at $21.10 on Friday. Flora Growth has a fifty-two week low of $15.15 and a fifty-two week high of $82.29. The business has a 50 day moving average price of $22.81 and a two-hundred day moving average price of $23.79. The company has a quick ratio of 0.61, a current ratio of 0.96 and a debt-to-equity ratio of 0.50. The firm has a market cap of $12.24 million, a PE ratio of -0.61 and a beta of 1.97.

Flora Growth (NASDAQ:FLGC) last issued its earnings results on Friday, August 1st. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.05). Flora Growth had a negative return on equity of 261.57% and a negative net margin of 24.86%.The firm had revenue of $14.80 million during the quarter, compared to analyst estimates of $11.77 million. Sell-side analysts expect that Flora Growth will post -0.93 earnings per share for the current fiscal year.

Institutional Trading of Flora Growth

An institutional investor recently raised its position in Flora Growth stock. Geode Capital Management LLC boosted its holdings in shares of Flora Growth Corp. (NASDAQ:FLGC) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & 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 at the end of the most recent quarter. Institutional investors own 36.01% of the company’s stock.

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.