In the last trading session, 3.82 million Flora Growth Corp (NASDAQ:FLGC) shares changed hands as the company’s beta touched 1.75. With the company’s per share price at $2.06 changed hands at $0.37 or 21.89% during last session, the market valuation stood at $16.91M. FLGC’s last price was a discount, traded about -192.72% off its 52-week high of $6.03. The share price had its 52-week low at $0.63, which suggests the last value was 69.42% up since then. When we look at Flora Growth Corp’s average trading volume, we note the 10-day average is 2.61 million shares, with the 3-month average coming to 445.37K.
Flora Growth Corp (NASDAQ:FLGC) trade information
Instantly FLGC was in green as seen at the end of in last trading. With action 56.06%, the performance over the past five days has been green. The jump to weekly highs of 2.1700 added 21.89% to the stock’s daily price. The company’s shares are showing year-to-date upside of 52.59%, with the 5-day performance at 56.06% in the green. However, in the 30-day time frame, Flora Growth Corp (NASDAQ:FLGC) is 115.14% up. Looking at the short shares, we see there were 0.13 million shares sold at short interest cover period of 0.96 days.
Flora Growth Corp (FLGC) estimates and forecasts
Data shows that the Flora Growth Corp share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 83.93% over the past 6 months, a 73.75% in annual growth rate that is considerably higher than the industry average of 17.20%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Flora Growth Corp will rise 97.70%, while the growth in revenue is estimated to hit 91.70% for the next quarter. Year-over-year growth is forecast to reach 100.70% up from the last financial year.
Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $16.52 million. 1 analysts are of the opinion that Flora Growth Corp’s revenue for the quarter ending Mar 2024 will be $17.18 million. The company’s revenue for the corresponding quarters a year ago was $11.49 million and $20.11 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 43.80%. The estimates for the next quarter sales put growth at -14.60%.
The 2024 estimates are for Flora Growth Corp earnings to increase by 59.36%.
FLGC Dividends
Flora Growth Corp is expected to release its next quarterly earnings report in April.
Flora Growth Corp (NASDAQ:FLGC)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 16.65% of Flora Growth Corp shares while 15.48% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 18.57%. There are 15.48% institutions holding the Flora Growth Corp stock share, with Mirae Asset Global Investments Co., Ltd. the top institutional holder. As of Jun 29, 2023, the company held 6.31% of the shares, roughly 0.43 million FLGC shares worth $1.03 million.
Vident Investment Advisory, LLC holds the second largest percentage of outstanding shares, with 0.36% or 24657.0 shares worth $58683.0 as of Jun 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were Global X Fds-The Global X Cannabis ETF and Fidelity NASDAQ Composite Index Fund. With 0.59 million shares estimated at $0.69 million under it, the former controlled 8.67% of total outstanding shares. On the other hand, Fidelity NASDAQ Composite Index Fund held about 0.01% of the shares, roughly 1021.0 shares worth around $4792.0.
