Short Interest in Flora Growth Corp. (NASDAQ:FLGC) Increases By 155.2%

Flora Growth Corp. (NASDAQ:FLGC) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 1,030,000 shares, a growth of 155.2% from the November 30th total of 403,600 shares. Based on an average daily volume of 590,200 shares, the short-interest ratio is presently 1.7 days. Currently, 12.9% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, Aegis started coverage on shares of Flora Growth in a research note on Monday, November 25th. They issued a “buy” rating and a $4.00 price target for the company.

Flora Growth Stock Up 5.7 %

Shares of NASDAQ:FLGC opened at $1.11 on Friday. Flora Growth has a 12-month low of $0.75 and a 12-month high of $2.93. The business has a 50-day moving average price of $1.44 and a 200 day moving average price of $1.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.02 and a quick ratio of 0.64.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Flora Growth stock. XTX Topco Ltd bought a new stake in Flora Growth Corp. (NASDAQ:FLGC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 18,070 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned about 0.14% of Flora Growth as of its most recent filing with the Securities and Exchange Commission. 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.