AdvisorShares Investments LLC Invests $73,000 in Flora Growth Corp. (NASDAQ:FLGC)

AdvisorShares Investments LLC purchased a new position in shares of Flora Growth Corp. (NASDAQ:FLGC) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 70,420 shares of the company’s stock, valued at approximately $73,000. AdvisorShares Investments LLC owned approximately 0.49% of Flora Growth as of its most recent SEC filing.

Separately, Geode Capital Management LLC lifted its position in shares of Flora Growth by 23.3% during the fourth quarter. Geode Capital Management LLC now owns 130,934 shares of the company’s stock worth $135,000 after purchasing an additional 24,713 shares in the last quarter. 36.01% of the stock is owned by institutional investors and hedge funds.

Flora Growth Stock Performance

Shares of Flora Growth stock opened at $0.60 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.02 and a quick ratio of 0.64. The firm has a 50 day simple moving average of $0.61 and a 200 day simple moving average of $1.02. Flora Growth Corp. has a fifty-two week low of $0.42 and a fifty-two week high of $2.11. The firm has a market cap of $11.66 million, a P/E ratio of -0.45 and a beta of 2.01.

Flora Growth (NASDAQ:FLGC) last released its earnings results on Monday, March 24th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.31). The firm had revenue of $13.33 million for the quarter, compared to the consensus estimate of $13.55 million. Flora Growth had a negative return on equity of 268.17% and a negative net margin of 30.99%. Sell-side analysts predict that Flora Growth Corp. will post -0.93 earnings per share for the current fiscal year.

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.