Short Interest in Flora Growth Corp. (NASDAQ:FLGC) Drops By 41.1%

Flora Growth Corp. (NASDAQ:FLGC) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 607,100 shares, a decrease of 41.1% from the December 15th total of 1,030,000 shares. Approximately 7.6% of the company’s shares are sold short. Based on an average daily volume of 587,400 shares, the short-interest ratio is presently 1.0 days.

Flora Growth Trading Up 1.7 %

Shares of FLGC stock traded up $0.02 during mid-day trading on Tuesday, reaching $0.94. The stock had a trading volume of 91,021 shares, compared to its average volume of 211,153. The firm’s 50 day simple moving average is $1.28 and its 200 day simple moving average is $1.25. 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 has a one year low of $0.75 and a one year high of $2.93.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Flora Growth

An institutional investor recently raised its position in Flora Growth stock. Renaissance Technologies LLC raised its holdings in Flora Growth Corp. (NASDAQ:FLGC) by 105.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 159,595 shares of the company’s stock after purchasing an additional 81,982 shares during the quarter. Renaissance Technologies LLC owned approximately 1.19% of Flora Growth worth $163,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 36.01% of the company’s stock.

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.