Short Interest in Flora Growth Corp. (NASDAQ:FLGC) Drops By 41.1%

Flora Growth Corp. (NASDAQ:FLGC) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 607,100 shares, a decline of 41.1% from the December 15th total of 1,030,000 shares. Based on an average daily volume of 587,400 shares, the days-to-cover ratio is presently 1.0 days. Approximately 7.6% of the shares of the stock are short sold.

Analyst Ratings Changes

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

Institutional Trading of Flora Growth

An institutional investor recently bought a new position in Flora Growth stock. XTX Topco Ltd bought a new position in shares of Flora Growth Corp. (NASDAQ:FLGC) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 18,070 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned approximately 0.14% of Flora Growth as of its most recent filing with the Securities & Exchange Commission. 36.01% of the stock is currently owned by institutional investors and hedge funds.

Flora Growth Trading Up 1.7 %

FLGC stock traded up $0.02 during midday trading on Tuesday, hitting $0.94. 91,021 shares of the company’s stock were exchanged, compared to its average volume of 211,153. The stock’s fifty day moving average price is $1.28 and its 200-day moving average price is $1.25. Flora Growth has a one year low of $0.75 and a one year high of $2.93. 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 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.