Flora Growth Corp. (NASDAQ:FLGC) Short Interest Update

Flora Growth Corp. (NASDAQ:FLGC) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 470,300 shares, a drop of 23.9% from the February 28th total of 617,700 shares. Based on an average trading volume of 249,200 shares, the days-to-cover ratio is presently 1.9 days. Currently, 3.7% of the company’s shares are sold short.

Institutional Trading of Flora Growth

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AdvisorShares Investments LLC acquired a new stake in shares of Flora Growth in the fourth quarter worth approximately $73,000. 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 purchasing an additional 24,713 shares during the period. Virtu Financial LLC acquired a new position in shares of Flora Growth in the 4th quarter valued at $43,000. Finally, XTX Topco Ltd purchased a new stake in shares of Flora Growth during the 3rd quarter valued at $28,000. Hedge funds and other institutional investors own 36.01% of the company’s stock.

Flora Growth Stock Down 2.8 %

FLGC stock opened at $0.65 on Monday. Flora Growth has a one year low of $0.59 and a one year high of $2.75. The stock has a market capitalization of $12.63 million, a P/E ratio of -0.49 and a beta of 1.99. The company has a 50 day moving average price of $0.78 and a two-hundred day moving average price of $1.17. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.64 and a current ratio of 1.02.

Flora Growth (NASDAQ:FLGC) last announced its quarterly earnings data on Monday, March 24th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.31). Flora Growth had a negative net margin of 30.99% and a negative return on equity of 268.17%. The business had revenue of $13.33 million during the quarter, compared to analysts’ expectations of $13.55 million. As a group, sell-side analysts expect that Flora Growth will post -0.93 EPS for the current year.

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.