Flora Growth (NASDAQ:FLGC) Shares Down 1.5% – Should You Sell?

Flora Growth Corp. (NASDAQ:FLGC)’s share price fell 1.5% during mid-day trading on Thursday . The company traded as low as $4.03 and last traded at $4.2350. 32,327 shares changed hands during trading, a decline of 18% from the average session volume of 39,454 shares. The stock had previously closed at $4.30.

Flora Growth Price Performance

The firm has a market cap of $4.43 million, a P/E ratio of -0.13 and a beta of 1.90. The company’s 50-day simple moving average is $2.97 and its 200 day simple moving average is $4.80.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Flora Growth stock. Geode Capital Management LLC lifted its holdings in Flora Growth Corp. (NASDAQ:FLGC) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 168,572 shares of the company’s stock after acquiring an additional 3,015 shares during the period. Geode Capital Management LLC owned 29.16% of Flora Growth worth $98,000 at the end of the most recent quarter. 36.01% of the stock is currently owned by institutional investors and hedge funds.

Flora Growth Company Profile

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.