Flora Growth Corp. (NASDAQ:FLGC) Sees Significant Growth in Short Interest

Flora Growth Corp. (NASDAQ:FLGC) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 1,030,000 shares, an increase of 155.2% from the November 30th total of 403,600 shares. Approximately 12.9% of the shares of the company are short sold. Based on an average daily trading volume, of 590,200 shares, the short-interest ratio is presently 1.7 days.

Institutional Trading of Flora Growth

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

Wall Street Analyst Weigh In

Separately, Aegis began coverage on shares of Flora Growth in a research report on Monday, November 25th. They set a “buy” rating and a $4.00 price target for the company.

Flora Growth Price Performance

FLGC opened at $1.02 on Friday. The business has a 50 day moving average of $1.43 and a 200-day moving average of $1.25. Flora Growth has a 1-year low of $0.75 and a 1-year high of $2.93. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.02 and a quick ratio of 0.64.

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.