During the recent session, Flora Growth Corp (NASDAQ:FLGC)’s traded shares were 1.54 million, with the beta value of the company hitting 1.88. At the last check today, the stock’s price was $2.27, reflecting an intraday loss of -14.91% or -$0.4. The 52-week high for the FLGC share is $5.68, that puts it down -150.22 from that peak though still a striking 72.25% gain since the share price plummeted to a 52-week low of $0.63. The company’s market capitalization is $20.40M, and the average intraday trading volume over the past 10 days was 3.49 million shares, and the average trade volume was 651.87K shares over the past three months.
Flora Growth Corp (NASDAQ:FLGC) trade information
Flora Growth Corp (FLGC) registered a -14.91% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -14.91% in intraday trading to $2.27, hitting a weekly high. The stock’s 5-day price performance is 1.88%, and it has moved by 110.37% in 30 days. Based on these gigs, the overall price performance for the year is -56.79%. The short interest in Flora Growth Corp (NASDAQ:FLGC) is 0.11 million shares and it means that shorts have 1.52 day(s) to cover.
Flora Growth Corp (FLGC) estimates and forecasts
Statistics show that Flora Growth Corp has outperformed its competitors in share price, compared to the industry in which it operates. Flora Growth Corp (FLGC) shares have gone up 108.44% during the last six months, with a year-to-date growth rate more than the industry average at 80.81% against 17.70. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 91.70% this quarter and then jump 99.40% in the quarter after that. In the rating firms’ projections, revenue will increase 3.70% compared to the previous financial year.
Revenue for the current quarter is expected to be $18.14 million as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $20.72 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $20.11 million and $20.82 million respectively. In this case, analysts expect current quarter sales to shrink by -9.80% and then drop by -0.50% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -83.38%. While earnings are projected to return 94.81% in 2024.
FLGC Dividends
Flora Growth Corp is due to release its next quarterly earnings in May. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Flora Growth Corp (NASDAQ:FLGC)’s Major holders
Flora Growth Corp insiders own 15.21% of total outstanding shares while institutional holders control 14.14%, with the float percentage being 16.68%. Mirae Asset Global Investments Co., Ltd. is the largest shareholder of the company, while 26 institutions own stock in it. As of Jun 29, 2023, the company held over 0.43 million shares (or 6.31% of all shares), a total value of $1.03 million in shares.
The next largest institutional holding, with 24657.0 shares, is of Vident Investment Advisory, LLC’s that is approximately 0.36% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $58683.0.
Also, the Mutual Funds coming in first place with the largest holdings of Flora Growth Corp (FLGC) shares are Global X Fds-The Global X Cannabis ETF and Fidelity NASDAQ Composite Index Fund. Data provided on Sep 29, 2023 indicates that Global X Fds-The Global X Cannabis ETF owns about 0.59 million shares. This amounts to just over 8.67 percent of the company’s overall shares, with a $0.69 million market value. The same data shows that the other fund manager holds slightly less at 1021.0, or about 0.01% of the stock, which is worth about $4792.0.
