Flora Growth (NASDAQ:FLGC) Now Covered by Analysts at Aegis

Aegis assumed coverage on shares of Flora Growth (NASDAQ:FLGC) in a research report sent to investors on Monday morning, Marketbeat reports. The firm issued a buy rating and a $4.00 price objective on the stock.

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

Flora Growth Price Performance

Shares of NASDAQ FLGC opened at $1.57 on Monday. 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 12 month low of $0.75 and a 12 month high of $2.93. The business has a fifty day simple moving average of $1.52 and a 200-day simple moving average of $1.22.

Institutional Trading of Flora Growth

An institutional investor recently raised its position in Flora Growth stock. Renaissance Technologies LLC boosted its holdings in shares of Flora Growth Corp. (NASDAQ:FLGC) by 105.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 159,595 shares of the company’s stock after buying an additional 81,982 shares during the period. Renaissance Technologies LLC owned approximately 1.19% of Flora Growth worth $163,000 as of its most recent filing with the Securities and Exchange Commission. 36.01% of the stock is currently owned by institutional investors and hedge funds.

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.