Flora Growth (NASDAQ:FLGC) Trading Up 13.8% – Time to Buy?

Flora Growth Corp. (NASDAQ:FLGC) rose 13.8% on Tuesday . The stock traded as high as $1.73 and last traded at $1.73. 69,201 shares were traded during trading, an increase of 75% from the average session volume of 39,454 shares. The stock had previously closed at $1.52.

Flora Growth Price Performance

The company’s 50 day simple moving average is $3.26 and its 200 day simple moving average is $5.71. The company has a market capitalization of $1.81 million, a PE ratio of -0.05 and a beta of 1.90.

Institutional Investors Weigh In On Flora Growth

A hedge fund recently raised its stake in Flora Growth stock. Geode Capital Management LLC lifted its stake in shares of Flora Growth Corp. (NASDAQ:FLGC) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 168,572 shares of the company’s stock after purchasing an additional 3,015 shares during the quarter. Geode Capital Management LLC owned about 29.16% of Flora Growth worth $98,000 at the end of the most recent quarter. 36.01% of the stock is owned by hedge funds and other institutional investors.

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.