Flora Growth (NASDAQ:FLGC) Posts Earnings Results

Flora Growth (NASDAQ:FLGCGet Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.06), reports. Flora Growth had a negative return on equity of 60.26% and a negative net margin of 75.33%. The business had revenue of $18.03 million for the quarter, compared to analyst estimates of $19.04 million.

Flora Growth Price Performance

Shares of FLGC stock opened at $1.33 on Thursday. The firm has a fifty day moving average of $1.66 and a two-hundred day moving average of $1.32. The firm has a market cap of $17.05 million, a P/E ratio of -0.13 and a beta of 2.00. Flora Growth has a 1-year low of $0.63 and a 1-year high of $5.48. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 0.79.

Analyst Ratings Changes

Separately, Roth Mkm boosted their target price on shares of Flora Growth to $7.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd.

Check Out Our Latest Stock Report on Flora Growth

Insider Transactions at Flora Growth

In other news, CEO Clifford Starke acquired 526,315 shares of Flora Growth stock in a transaction that occurred on Monday, April 8th. The shares were purchased at an average cost of $1.90 per share, for a total transaction of $999,998.50. Following the completion of the purchase, the chief executive officer now directly owns 565,714 shares of the company’s stock, valued at approximately $1,074,856.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Flora Growth

An institutional investor recently raised its position in Flora Growth stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Flora Growth Corp. (NASDAQ:FLGCFree Report) by 66.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 988,368 shares of the company’s stock after buying an additional 393,780 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 12.04% of Flora Growth worth $1,334,000 at the end of the most recent quarter. 36.01% of the stock is currently owned by institutional investors and hedge funds.

About Flora Growth

(Get Free Report)

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.

Recommended Stories

Earnings History for Flora Growth (NASDAQ:FLGC)

Receive News & Ratings for Flora Growth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flora Growth and related companies with MarketBeat.com's FREE daily email newsletter.