Flora Growth Corp. (NASDAQ:FLGC) Short Interest Down 49.5% in January

Flora Growth Corp. (NASDAQ:FLGC) saw a significant drop in short interest in January. As of January 15th, there was short interest totaling 22,719 shares, a drop of 49.5% from the December 31st total of 45,021 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 19,533 shares, the short-interest ratio is currently 1.2 days. Based on an average daily trading volume, of 19,533 shares, the short-interest ratio is currently 1.2 days. Currently, 2.2% of the shares of the stock are sold short.

Flora Growth Trading Up 31.8%

Shares of FLGC traded up $2.85 during trading hours on Friday, hitting $11.80. 1,706,458 shares of the stock traded hands, compared to its average volume of 122,899. The business has a fifty day moving average of $7.87 and a 200-day moving average of $15.06. The firm has a market capitalization of $12.39 million, a PE ratio of -0.36 and a beta of 1.90. Flora Growth has a 1-year low of $5.86 and a 1-year high of $47.00.

Flora Growth (NASDAQ:FLGC) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($4.93) earnings per share for the quarter, missing the consensus estimate of ($2.13) by ($2.80). Flora Growth had a negative return on equity of 64.02% and a negative net margin of 32.03%.The firm had revenue of $9.75 million for the quarter, compared to the consensus estimate of $12.50 million. As a group, equities research analysts expect that Flora Growth will post -0.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On 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% in the second quarter, according to its most recent filing with the SEC. The firm owned 168,572 shares of the company’s stock after acquiring an additional 3,015 shares during the period. Geode Capital Management LLC owned 29.16% of Flora Growth worth $98,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 36.01% of the company’s stock.

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.