Flora Growth (FLGC) to Release Quarterly Earnings on Monday

Flora Growth (NASDAQ:FLGC) will likely be announcing its results before the market opens on Monday, March 23rd. Analysts expect the company to announce earnings of ($1.97) per share for the quarter.

Flora Growth Stock Up 17.4%

Shares of FLGC stock opened at $9.64 on Friday. The stock has a market cap of $10.08 million, a price-to-earnings ratio of -0.30 and a beta of 1.90. Flora Growth has a fifty-two week low of $5.86 and a fifty-two week high of $47.00. The firm’s 50 day moving average price is $8.10 and its two-hundred day moving average price is $11.63.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Flora Growth from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Flora Growth in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.00.

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% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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. 36.01% of the stock is currently owned by institutional investors.

About Flora Growth

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.