Flora Growth Corp. (NASDAQ:FLGC) Sees Large Increase in Short Interest

Flora Growth Corp. (NASDAQ:FLGC) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 1,030,000 shares, a growth of 155.2% from the November 30th total of 403,600 shares. Currently, 12.9% of the shares of the company are sold short. Based on an average daily trading volume, of 590,200 shares, the days-to-cover ratio is currently 1.7 days.

Analyst Upgrades and Downgrades

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

Flora Growth Trading Down 8.1 %

Shares of NASDAQ FLGC opened at $1.02 on Friday. The business has a 50-day simple moving average of $1.43 and a two-hundred day simple moving average of $1.25. Flora Growth has a 52 week low of $0.75 and a 52 week high of $2.93. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.64 and a current ratio of 1.02.

Hedge Funds Weigh In On Flora Growth

A hedge fund recently raised its stake in Flora Growth stock. Renaissance Technologies LLC boosted its position in Flora Growth Corp. (NASDAQ:FLGC) by 105.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,595 shares of the company’s stock after buying an additional 81,982 shares during the quarter. Renaissance Technologies LLC owned approximately 1.19% of Flora Growth worth $163,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 36.01% of the company’s stock.

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.