Flora Growth (NASDAQ:FLGC) Posts Quarterly Earnings Results, Misses Estimates By $0.31 EPS

Flora Growth (NASDAQ:FLGC) announced its quarterly earnings data on Monday. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.31), Zacks reports. Flora Growth had a negative net margin of 30.99% and a negative return on equity of 268.17%.

Flora Growth Stock Up 5.9 %

Shares of NASDAQ:FLGC traded up $0.04 during midday trading on Monday, reaching $0.66. 91,166 shares of the company’s stock were exchanged, compared to its average volume of 436,485. The company’s 50 day simple moving average is $0.81 and its two-hundred day simple moving average is $1.18. Flora Growth has a 12 month low of $0.59 and a 12 month 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.

Analysts Set New Price Targets

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

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.