Flora Growth (NASDAQ:FLGC) Now Covered by Analysts at Aegis

Aegis initiated coverage on shares of Flora Growth (NASDAQ:FLGC) in a research report sent to investors on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $4.00 price objective on the stock.

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

Flora Growth Stock Performance

Shares of NASDAQ:FLGC opened at $1.51 on Monday. Flora Growth has a 12 month low of $0.75 and a 12 month high of $2.93. The company’s 50-day moving average price is $1.50 and its two-hundred day moving average price is $1.22. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.02 and a quick ratio of 0.64.

Institutional Investors Weigh In On Flora Growth

A hedge fund recently raised its stake in Flora Growth stock. Renaissance Technologies LLC grew its holdings in Flora Growth Corp. (NASDAQ:FLGC) by 105.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period. 36.01% of the stock is owned by institutional investors and hedge funds.

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.