Aegis Begins Coverage on Flora Growth (NASDAQ:FLGC)

Equities researchers at Aegis started coverage on shares of Flora Growth (NASDAQ:FLGC) in a research note issued on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $4.00 price target on the stock. Aegis’ price target points to a potential upside of 179.72% from the stock’s current price.

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

Flora Growth Trading Up 9.2 %

Shares of FLGC opened at $1.43 on Monday. The firm’s 50 day moving average price is $1.49 and its two-hundred day moving average price is $1.22. The company has a quick ratio of 0.64, a current ratio of 1.02 and a debt-to-equity ratio of 0.43. Flora Growth has a twelve month low of $0.75 and a twelve month high of $2.93.

Institutional Investors Weigh In On Flora Growth

A hedge fund recently raised its stake in Flora Growth stock. Renaissance Technologies LLC lifted its position in shares of Flora Growth Corp. (NASDAQ:FLGC) by 105.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 159,595 shares of the company’s stock after purchasing an additional 81,982 shares during the period. Renaissance Technologies LLC owned 1.19% of Flora Growth worth $163,000 at the end of the most recent quarter. 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.