Aegis Begins Coverage on Flora Growth (NASDAQ:FLGC)

Equities research analysts at Aegis initiated coverage on shares of Flora Growth (NASDAQ:FLGC) in a report issued on Monday, Marketbeat Ratings reports. The firm set a “buy” rating and a $4.00 price target on the stock. Aegis’ price objective points to a potential upside of 158.06% from the company’s previous close.

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

Flora Growth Price Performance

FLGC opened at $1.55 on Monday. Flora Growth has a 1 year low of $0.75 and a 1 year high of $2.93. The company has a quick ratio of 0.64, a current ratio of 1.02 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average price is $1.50 and its two-hundred day moving average price is $1.22.

Institutional Investors Weigh In On Flora Growth

A hedge fund recently bought a new stake in Flora Growth stock. XTX Topco Ltd bought a new position in Flora Growth Corp. (NASDAQ:FLGC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 18,070 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned approximately 0.14% of Flora Growth as of its most recent SEC filing. 36.01% of the stock is currently owned by institutional investors.

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.