Flora Growth (NASDAQ:FLGC) Trading Down 1.5% – Time to Sell?

Flora Growth Corp. (NASDAQ:FLGC) shares dropped 1.5% during trading on Wednesday . The company traded as low as $0.82 and last traded at $0.84. Approximately 104,801 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 233,284 shares. The stock had previously closed at $0.85.

Analyst Upgrades and Downgrades

Separately, Aegis assumed coverage on Flora Growth in a report on Monday, November 25th. They set a “buy” rating and a $4.00 price objective on the stock.

Flora Growth Price Performance

The company has a 50 day moving average price of $0.93 and a 200-day moving average price of $1.21. The company has a quick ratio of 0.64, a current ratio of 1.02 and a debt-to-equity ratio of 0.43.

Hedge Funds Weigh In On Flora Growth

Large investors have recently modified their holdings of the business. XTX Topco Ltd bought a new stake in shares of Flora Growth in the third quarter worth $28,000. Virtu Financial LLC bought a new stake in Flora Growth in the fourth quarter valued at approximately $43,000. AdvisorShares Investments LLC bought a new stake in shares of Flora Growth in the 4th quarter valued at $73,000. Finally, Geode Capital Management LLC raised its stake in Flora Growth by 23.3% during the fourth quarter. Geode Capital Management LLC now owns 130,934 shares of the company’s stock worth $135,000 after buying an additional 24,713 shares during the last 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.