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

Flora Growth Corp. (NASDAQ:FLGC) was the recipient of a significant increase in short interest in February. As of February 15th, there was short interest totalling 755,900 shares, an increase of 23.9% from the January 31st total of 610,000 shares. Currently, 6.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 467,400 shares, the days-to-cover ratio is currently 1.6 days.

Hedge Funds Weigh In On Flora Growth

Institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd purchased a new position in shares of Flora Growth during the third quarter worth about $28,000. Virtu Financial LLC purchased a new stake in Flora Growth in the fourth quarter valued at approximately $43,000. AdvisorShares Investments LLC bought a new stake in Flora Growth during the fourth quarter valued at approximately $73,000. Finally, Geode Capital Management LLC grew its stake in Flora Growth by 23.3% in the 4th 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 in the last quarter. 36.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Flora Growth Trading Down 2.8 %

Flora Growth stock opened at $0.70 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.02 and a debt-to-equity ratio of 0.43. Flora Growth has a fifty-two week low of $0.64 and a fifty-two week high of $2.93. The firm’s fifty day moving average price is $0.89 and its 200-day moving average price is $1.20.

Flora Growth Company Profile

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.