why Flora Growth Corp. [FLGC] is a Good Choice for Investors After New Price Target of $5.50

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Flora Growth Corp. [NASDAQ: FLGC] stock went on a downward path that fall over -7.20% on Thursday, amounting to a one-week price decrease of less than -16.07%. The company report on June 16, 2022 that FLGC: Laying the Groundwork For Global Sales of Cannabis & Related Products.


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By M. Marin.

Over the last 12 months, FLGC stock dropped by -81.96%. The one-year Flora Growth Corp. stock forecast points to a potential upside of 88.18. The average equity rating for FLGC stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $51.55 million, with 43.95 million shares outstanding and 33.78 million shares in the current float. Compared to the average trading volume of 737.06K shares, FLGC stock reached a trading volume of 8710623 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Flora Growth Corp. [FLGC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FLGC shares is $5.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FLGC stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

ROTH Capital have made an estimate for Flora Growth Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 13, 2021. While these analysts kept the previous recommendation, MKM Partners raised their target price to Buy. The new note on the price target was released on June 23, 2021, representing the official price target for Flora Growth Corp. stock.

The Average True Range (ATR) for Flora Growth Corp. is set at 0.11, with the Price to Sales ratio for FLGC stock in the period of the last 12 months amounting to 5.73. The Price to Book ratio for the last quarter was 0.37, with the Price to Cash per share for the same quarter was set at 0.47.

FLGC Stock Performance Analysis:

Flora Growth Corp. [FLGC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.07. With this latest performance, FLGC shares dropped by -50.41% in over the last four-week period, additionally sinking by -68.16% over the last 6 months – not to mention a drop of -81.96% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FLGC stock in for the last two-week period is set at 22.71, with the RSI for the last a single of trading hit 17.78, and the three-weeks RSI is set at 27.20 for Flora Growth Corp. [FLGC]. The present Moving Average for the last 50 days of trading for this stock 1.2703, while it was recorded at 0.6953 for the last single week of trading, and 2.7256 for the last 200 days.

Insight into Flora Growth Corp. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Flora Growth Corp. [FLGC] shares currently have an operating margin of -199.58 and a Gross Margin at -78.80. Flora Growth Corp.’s Net Margin is presently recorded at -236.63.

Return on Equity for this stock declined to -45.44, with Return on Assets sitting at -40.50.

Flora Growth Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.30 and a Current Ratio set at 7.80.

Flora Growth Corp. [FLGC] Insider Position Details

There are presently around $1 million, or 4.50% of FLGC stock, in the hands of institutional investors. The top three institutional holders of FLGC stocks are: MIRAE ASSET GLOBAL INVESTMENTS CO., LTD. with ownership of 1,462,394, which is approximately 61.915% of the company’s market cap and around 15.08% of the total institutional ownership; VIDENT INVESTMENT ADVISORY, LLC, holding 131,042 shares of the stock with an approximate value of $85000.0 in FLGC stocks shares; and VIRTU FINANCIAL LLC, currently with $41000.0 in FLGC stock with ownership of nearly 88.508% of the company’s market capitalization.

Positions in Flora Growth Corp. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 8 institutional holders increased their position in Flora Growth Corp. [NASDAQ:FLGC] by around 731,264 shares. Additionally, 18 investors decreased positions by around 3,081,697 shares, while 13 investors held positions by with 1,891,751 shares. The mentioned changes placed institutional holdings at 1,921,210 shares, according to the latest SEC report filing. FLGC stock had 4 new institutional investments in for a total of 61,555 shares, while 11 institutional investors sold positions of 2,853,658 shares during the same period.

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