Flora Growth (NASDAQ:FLGC) Shares Down 1.5% – Here’s What Happened

Flora Growth Corp. (NASDAQ:FLGC)’s share price traded down 1.5% during trading on Wednesday . The stock traded as low as $0.82 and last traded at $0.84. 104,801 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 233,284 shares. The stock had previously closed at $0.85.

Wall Street Analysts Forecast Growth

Separately, Aegis assumed coverage on Flora Growth in a report on Monday, November 25th. They issued a “buy” rating and a $4.00 price objective on the stock.

Flora Growth Trading Down 1.5 %

The company has a current ratio of 1.02, a quick ratio of 0.64 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average price of $0.93 and a 200-day moving average price of $1.21.

Institutional Investors Weigh In On Flora Growth

A number of large investors have recently bought and sold shares of FLGC. AdvisorShares Investments LLC bought a new position in shares of Flora Growth in the 4th quarter valued at $73,000. Virtu Financial LLC acquired a new position in Flora Growth during the fourth quarter worth about $43,000. Geode Capital Management LLC lifted its holdings in shares of Flora Growth by 23.3% in the fourth quarter. Geode Capital Management LLC now owns 130,934 shares of the company’s stock worth $135,000 after acquiring an additional 24,713 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Flora Growth in the third quarter worth about $28,000. 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.