Flora Growth Corp (NASDAQ: FLGC)’s stock price has decreased by -10.92 compared to its previous closing price of 1.74. However, the company has seen a -13.41% decrease in its stock price over the last five trading sessions. MarijuanaStocks reported 2024-03-31 that As April 2024 approaches, investors watch the marijuana stock market for potential momentum. The cannabis industry, especially in the U.S., has seen significant growth, driven by legislative advancements and changing public perceptions. This growth trajectory suggests a promising future for the sector, making it an area of interest for both seasoned and novice investors. Companies like Canopy Growth and Aurora Cannabis are among the top stocks to watch as they expand their global footprint. Furthermore, U.S.-based firms are gaining traction thanks to state-level legalization and the potential for federal reforms. These developments create a dynamic market landscape with opportunities for those closely monitoring industry trends and company performances.
Is It Worth Investing in Flora Growth Corp (NASDAQ: FLGC) Right Now?
The 36-month beta value for FLGC is at 1.98. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for FLGC is 7.73M, and currently, shorts hold a 11.94% of that float. The average trading volume for FLGC on April 25, 2024 was 760.33K shares.
FLGC’s Market Performance
The stock of Flora Growth Corp (FLGC) has seen a -13.41% decrease in the past week, with a -8.28% drop in the past month, and a 13.97% gain in the past quarter. The volatility ratio for the week is 12.54%, and the volatility levels for the past 30 days are at 18.40% for FLGC. The simple moving average for the past 20 days is -24.59% for FLGC’s stock, with a -0.70% simple moving average for the past 200 days.
Analysts’ Opinion of FLGC
Many brokerage firms have already submitted their reports for FLGC stocks, with ROTH Capital repeating the rating for FLGC by listing it as a “Buy.” The predicted price for FLGC in the upcoming period, according to ROTH Capital is $10 based on the research report published on October 13, 2021 of the previous year 2021.
MKM Partners, on the other hand, stated in their research note that they expect to see FLGC reach a price target of $6. The rating they have provided for FLGC stocks is “Buy” according to the report published on June 23rd, 2021.
FLGC Trading at 4.97% from the 50-Day Moving Average
After a stumble in the market that brought FLGC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -71.72% of loss for the given period.
Volatility was left at 18.40%, however, over the last 30 days, the volatility rate increased by 12.54%, as shares sank -24.76% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +86.52% upper at present.
During the last 5 trading sessions, FLGC fell by -13.41%, which changed the moving average for the period of 200-days by -42.59% in comparison to the 20-day moving average, which settled at $2.0300. In addition, Flora Growth Corp saw 14.81% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at FLGC starting from Starke Clifford, who purchase 526,315 shares at the price of $1.90 back on Apr 08 ’24. After this action, Starke Clifford now owns 565,714 shares of Flora Growth Corp, valued at $999,998 using the latest closing price.
Stock Fundamentals for FLGC
Current profitability levels for the company are sitting at:
- -0.6 for the present operating margin
- 0.19 for the gross margin
The net margin for Flora Growth Corp stands at -0.72. The total capital return value is set at -6.31. Equity return is now at value -152.92, with -92.42 for asset returns.
Based on Flora Growth Corp (FLGC), the company’s capital structure generated 0.36 points at debt to capital in total, while cash flow to debt ratio is standing at -2.26. The debt to equity ratio resting at 0.57. The interest coverage ratio of the stock is -503.7.
Currently, EBITDA for the company is -6.31 million with net debt to EBITDA at 0.08. When we switch over and look at the enterprise to sales, we see a ratio of 0.21. The receivables turnover for the company is 10.82for trailing twelve months and the total asset turnover is 3.25. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.31.
Conclusion
In conclusion, Flora Growth Corp (FLGC) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
