Flora Growth (NASDAQ:FLGC) Trading 2.4% Higher – Should You Buy?

Flora Growth Corp. (NASDAQ:FLGC)’s stock price was up 2.4% during mid-day trading on Thursday . The company traded as high as $9.60 and last traded at $9.03. Approximately 40,078 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 122,899 shares. The stock had previously closed at $8.82.

Analysts Set New Price Targets

Several research firms recently weighed in on FLGC. Weiss Ratings reissued a “sell (e+)” rating on shares of Flora Growth in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Flora Growth from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Flora Growth has a consensus rating of “Hold” and an average target price of $30.00.

Flora Growth Price Performance

The firm has a market cap of $9.45 million, a P/E ratio of -0.28 and a beta of 1.90. The company’s 50-day moving average is $7.92 and its two-hundred day moving average is $13.21.

Institutional Investors 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% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 168,572 shares of the company’s stock after buying an additional 3,015 shares during the period. Geode Capital Management LLC owned about 29.16% of Flora Growth worth $98,000 as of its most recent filing with the SEC. 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.