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

Flora Growth Corp. (NASDAQ:FLGC) – Alliance Global Partners reduced their Q3 2024 EPS estimates for shares of Flora Growth in a research note issued on Thursday, August 15th. Alliance Global Partners analyst A. Grey now expects that the company will earn ($0.10) per share for the quarter, down from their prior estimate of ($0.01). Alliance Global Partners 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 reaffirmed a “buy” rating and set a $6.00 price objective (down from $7.00) on shares of Flora Growth in a research note on Thursday, May 16th.

Flora Growth Price Performance

FLGC stock opened at $0.93 on Monday. The company has a quick ratio of 0.65, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. Flora Growth has a one year low of $0.63 and a one year high of $5.48. The firm has a 50-day moving average of $1.01 and a two-hundred day moving average of $1.26.

Institutional Trading of Flora Growth

A hedge fund recently raised its stake in Flora Growth stock. Renaissance Technologies LLC grew its holdings in Flora Growth Corp. (NASDAQ:FLGC) by 105.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 159,595 shares of the company’s stock after purchasing 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 SEC filing. 36.01% of the stock is owned by institutional investors.

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.