Flora Growth Corp. (NASDAQ:FLGC) Short Interest Up 155.2% in December

Flora Growth Corp. (NASDAQ:FLGC) was the recipient of a large increase in short interest in 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. Based on an average daily trading volume, of 590,200 shares, the short-interest ratio is currently 1.7 days. Currently, 12.9% of the company’s stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Flora Growth stock. Renaissance Technologies LLC grew its position in Flora Growth Corp. (NASDAQ:FLGC) by 105.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period. 36.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Flora Growth Trading Up 5.7 %

Shares of FLGC opened at $1.11 on Friday. Flora Growth has a 1 year low of $0.75 and a 1 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. The stock has a 50-day simple moving average of $1.44 and a 200-day simple moving average of $1.25.

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.