Flora Growth (NASDAQ:FLGC) Stock Price Down 1.5% – Here’s What Happened

Flora Growth Corp. (NASDAQ:FLGC)’s share price traded down 1.5% on Thursday . The company traded as low as $4.03 and last traded at $4.2350. Approximately 32,327 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 39,454 shares. The stock had previously closed at $4.30.

Flora Growth Trading Down 1.2%

The stock has a fifty day simple moving average of $3.00 and a 200-day simple moving average of $4.80. The company has a market capitalization of $5.06 million, a PE ratio of -0.15 and a beta of 1.90.

Hedge Funds Weigh In On Flora Growth

A hedge fund recently raised its position in Flora Growth stock. Geode Capital Management LLC grew its stake in shares of Flora Growth Corp. (NASDAQ:FLGC) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission. 36.01% of the stock is owned by institutional investors and hedge funds.

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.