Flora Growth Corp. (NASDAQ:FLGC) Director Buys $24,250.00 in Stock

Flora Growth Corp. (NASDAQ:FLGC) Director Harold Wolkin acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $0.97 per share, with a total value of $24,250.00. Following the acquisition, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $24,250. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Flora Growth Price Performance

FLGC opened at $0.97 on Friday. The business has a fifty day moving average price of $1.01 and a 200 day moving average price of $1.27. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.16 and a quick ratio of 0.79. Flora Growth Corp. has a 12 month low of $0.63 and a 12 month high of $2.93.

Flora Growth (NASDAQ:FLGC) last released its earnings results on Monday, August 12th. The company reported ($0.22) earnings per share 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 firm had revenue of $15.68 million for the quarter, compared to analysts’ expectations of $20.74 million. As a group, sell-side analysts anticipate that Flora Growth Corp. will post -0.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Flora Growth

A hedge fund recently raised its stake in Flora Growth stock. Renaissance Technologies LLC grew its holdings in shares of Flora Growth Corp. (NASDAQ:FLGC) by 105.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 159,595 shares of the company’s stock after buying an additional 81,982 shares during the period. Renaissance Technologies LLC owned 1.19% of Flora Growth worth $163,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors 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.