Shares of Flora Growth Corp. (NASDAQ:FLGC – Get Free Report) rose 13.8% during mid-day trading on Tuesday . The company traded as high as $1.73 and last traded at $1.73. Approximately 69,201 shares were traded during mid-day trading, an increase of 75% from the average daily volume of 39,454 shares. The stock had previously closed at $1.52.
Flora Growth Stock Up 13.8%
The firm has a market capitalization of $1.81 million, a price-to-earnings ratio of -0.05 and a beta of 1.90. The stock has a 50-day moving average price of $3.26 and a 200 day moving average price of $5.71.
Institutional Investors Weigh In On Flora Growth
A hedge fund recently raised its stake in Flora Growth stock. Geode Capital Management LLC raised its holdings in Flora Growth Corp. (NASDAQ:FLGC – Free Report) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (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 SEC filing. Hedge funds and other 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.
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