Flora Growth (NASDAQ:FLGC) Coverage Initiated at Aegis

Equities researchers at Aegis began coverage on shares of Flora Growth (NASDAQ:FLGC) in a research note issued on Monday, Marketbeat Ratings reports. The firm set a “buy” rating and a $4.00 price target on the stock. Aegis’ target price would indicate a potential upside of 158.06% from the company’s current price.

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

Flora Growth Stock Up 2.6 %

Shares of NASDAQ FLGC opened at $1.55 on Monday. The firm’s 50 day simple moving average is $1.50 and its two-hundred day simple moving average is $1.22. Flora Growth has a one year low of $0.75 and a one year high of $2.93. The company has a current ratio of 1.02, a quick ratio of 0.64 and a debt-to-equity ratio of 0.43.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Flora Growth stock. Renaissance Technologies LLC boosted its holdings in shares of Flora Growth Corp. (NASDAQ:FLGC) by 105.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,595 shares of the company’s stock after acquiring an additional 81,982 shares during the period. Renaissance Technologies LLC owned 1.19% of Flora Growth worth $163,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 36.01% of the company’s stock.

About Flora Growth

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.