Flora Growth’s (FLGC) Sell (E+) Rating Reaffirmed at Weiss Ratings

Flora Growth (NASDAQ:FLGC)‘s stock had its “sell (e+)” rating reaffirmed by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

FLGC has been the topic of several other research reports. Roth Capital set a $30.00 price target on Flora Growth and gave the company a “buy” rating in a report on Tuesday, August 5th. Wall Street Zen upgraded Flora Growth to a “hold” rating in a report on Friday, September 26th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Flora Growth currently has a consensus rating of “Hold” and an average price target of $93.00.

Flora Growth Trading Up 6.4%

NASDAQ:FLGC opened at $19.23 on Wednesday. The stock’s 50 day moving average price is $21.91 and its 200 day moving average price is $23.46. Flora Growth has a 52 week low of $15.15 and a 52 week high of $82.29. The company has a market capitalization of $13.65 million, a P/E ratio of -0.56 and a beta of 1.93. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.61 and a current ratio of 0.96.

Flora Growth (NASDAQ:FLGC) last announced its quarterly 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 net margin of 24.86% and a negative return on equity of 261.57%. The company had revenue of $14.80 million for the quarter, compared to analyst estimates of $11.77 million. On average, research analysts forecast that Flora Growth will post -0.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Flora Growth stock. Geode Capital Management LLC increased its position in Flora Growth Corp. (NASDAQ:FLGC) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 approximately 29.16% of Flora Growth worth $98,000 at the end of the most recent quarter. Hedge funds and other 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.