Clifford Starke Buys 526,315 Shares of Flora Growth Corp. (NASDAQ:FLGC) Stock

Flora Growth Corp. (NASDAQ:FLGC) CEO Clifford Starke acquired 526,315 shares of Flora Growth stock in a transaction on Monday, April 8th. The stock was acquired at an average price of $1.90 per share, with a total value of $999,998.50. Following the purchase, the chief executive officer now directly owns 565,714 shares in the company, valued at $1,074,856.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Flora Growth Stock Up 4.1 %

FLGC stock opened at $2.26 on Thursday. The stock has a fifty day moving average of $1.35 and a 200-day moving average of $1.21. The company has a market capitalization of $20.29 million, a price-to-earnings ratio of -0.23 and a beta of 1.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.79 and a current ratio of 1.31. Flora Growth Corp. has a fifty-two week low of $0.63 and a fifty-two week high of $5.48.

Analyst Ratings Changes

Separately, Roth Mkm increased their price target on Flora Growth to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd.

Institutional Trading of Flora Growth

A number of institutional investors have recently added to or reduced their stakes in FLGC. Flow Traders U.S. LLC purchased a new stake in Flora Growth during the 1st quarter worth about $26,000. Vident Investment Advisory LLC lifted its holdings in Flora Growth by 154.4% during the 1st quarter. Vident Investment Advisory LLC now owns 131,042 shares of the company’s stock worth $257,000 after purchasing an additional 79,537 shares in the last quarter. Virtu Financial LLC lifted its holdings in Flora Growth by 88.5% during the 1st quarter. Virtu Financial LLC now owns 63,546 shares of the company’s stock worth $125,000 after purchasing an additional 29,836 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Flora Growth by 1,037.0% during the 2nd quarter. Renaissance Technologies LLC now owns 623,073 shares of the company’s stock worth $380,000 after purchasing an additional 568,273 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in Flora Growth during the 2nd quarter worth about $260,000. Hedge funds and other institutional investors 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.