Equities Analysts Offer Predictions for Flora Growth Corp.’s Q3 2024 Earnings (NASDAQ:FLGC)

Flora Growth Corp. (NASDAQ:FLGC) – Investment analysts at Alliance Global Partners cut their Q3 2024 earnings per share (EPS) estimates for shares of Flora Growth in a research note issued on Thursday, August 15th. Alliance Global Partners analyst A. Grey now anticipates that the company will post earnings of ($0.10) per share for the quarter, down from their previous estimate of ($0.01). Alliance Global Partners currently has a “Neutral” rating on the stock. The consensus estimate for Flora Growth’s current full-year earnings is ($0.30) per share. Alliance Global Partners also issued estimates for Flora Growth’s Q4 2024 earnings at ($0.05) EPS, Q1 2025 earnings at ($0.04) EPS, Q2 2025 earnings at ($0.02) EPS, Q3 2025 earnings at $0.02 EPS and FY2025 earnings at $0.02 EPS.

Separately, Roth Mkm reiterated a “buy” rating and set a $6.00 price objective (down previously from $7.00) on shares of Flora Growth in a report on Thursday, May 16th.

Flora Growth Stock Performance

NASDAQ:FLGC opened at $0.93 on Monday. Flora Growth has a fifty-two week low of $0.63 and a fifty-two week high of $5.48. The company has a current ratio of 1.13, a quick ratio of 0.65 and a debt-to-equity ratio of 0.58. The business’s 50-day simple moving average is $1.01 and its 200-day simple moving average is $1.26.

Hedge Funds Weigh In On Flora Growth

A hedge fund recently raised its stake in Flora Growth stock. Renaissance Technologies LLC raised its position in Flora Growth Corp. (NASDAQ:FLGC) by 105.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 159,595 shares of the company’s stock after acquiring an additional 81,982 shares during the period. Renaissance Technologies LLC owned about 1.19% of Flora Growth worth $163,000 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., 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.