Flora Growth (NASDAQ:FLGC) Trading Down 2.6% – Should You Sell?

Flora Growth Corp. (NASDAQ:FLGC)’s stock price was down 2.6% during mid-day trading on Thursday . The company traded as low as $8.1950 and last traded at $8.50. Approximately 6,253 shares traded hands during trading, a decline of 95% from the average daily volume of 122,899 shares. The stock had previously closed at $8.73.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wall Street Zen raised shares of Flora Growth from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Flora Growth in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Flora Growth has a consensus rating of “Hold” and a consensus target price of $30.00.

Flora Growth Stock Down 2.6%

The firm has a 50-day moving average price of $8.08 and a 200 day moving average price of $11.79. The firm has a market capitalization of $8.89 million, a PE ratio of -0.26 and a beta of 1.90.

Hedge Funds Weigh In On Flora Growth

An institutional investor recently raised its position in Flora Growth stock. Geode Capital Management LLC lifted its holdings in shares of Flora Growth Corp. (NASDAQ:FLGC) by 1.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 168,572 shares of the company’s stock after purchasing an additional 3,015 shares during the quarter. Geode Capital Management LLC owned about 29.16% of Flora Growth worth $98,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 36.01% of the company’s stock.

About Flora Growth

Flora Growth Corp (NASDAQ: FLGC) is a vertically integrated cannabis and hemp company engaged in the cultivation, extraction, formulation and distribution of cannabinoid-based products. Its portfolio encompasses a broad range of offerings, including oils, vape cartridges, edibles, topicals and patent-pending delivery systems designed for both medical and wellness applications.

Founded in 2018, Flora Growth has established cultivation and processing operations in Uruguay’s greenhouse hubs, complemented by extraction and formulation laboratories in Florida.