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

Flora Growth Corp. (NASDAQ:FLGC) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 142,100 shares, an increase of 21.6% from the August 15th total of 116,900 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average daily volume of 72,400 shares, the short-interest ratio is presently 2.0 days.

Institutional Investors Weigh In On Flora Growth

An institutional investor recently raised its position in Flora Growth stock. Renaissance Technologies LLC increased its stake in shares of Flora Growth Corp. (NASDAQ:FLGC) by 105.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 159,595 shares of the company’s stock after buying an additional 81,982 shares during the quarter. Renaissance Technologies LLC owned about 1.19% of Flora Growth worth $163,000 at the end of the most recent reporting period. Institutional investors own 36.01% of the company’s stock.

Flora Growth Stock Up 13.3 %

Flora Growth stock traded up $0.14 during trading on Tuesday, reaching $1.19. The company had a trading volume of 328,545 shares, compared to its average volume of 355,649. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.16 and a quick ratio of 0.79. The firm’s 50-day simple moving average is $1.01 and its 200 day simple moving average is $1.27. Flora Growth has a 1-year low of $0.63 and a 1-year high of $2.93.

Flora Growth (NASDAQ:FLGC) last released its earnings results on Monday, August 12th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.17). Flora Growth had a negative return on equity of 161.06% and a negative net margin of 21.56%. The company had revenue of $15.68 million for the quarter, compared to analysts’ expectations of $20.74 million. Sell-side analysts forecast that Flora Growth will post -0.48 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners restated a “neutral” rating on shares of Flora Growth in a research report on Thursday, August 15th.

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.