Flora Growth (NASDAQ:FLGC) Trading 2.1% Higher – Here’s What Happened

Flora Growth Corp. (NASDAQ:FLGC)’s share price traded up 2.1% on Friday . The stock traded as high as $4.52 and last traded at $4.29. 5,507 shares were traded during trading, a decline of 86% from the average session volume of 39,454 shares. The stock had previously closed at $4.20.

Flora Growth Stock Down 0.3%

The company’s 50 day moving average price is $6.22 and its two-hundred day moving average price is $7.42. The stock has a market cap of $4.47 million, a P/E ratio of -0.13 and a beta of 1.90.

Hedge Funds Weigh In On Flora Growth

An institutional investor recently raised its position in Flora Growth stock. Geode Capital Management LLC boosted its holdings in shares of Flora Growth Corp. (NASDAQ:FLGC) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 168,572 shares of the company’s stock after buying an additional 3,015 shares during the quarter. Geode Capital Management LLC owned approximately 29.16% of Flora Growth worth $98,000 as of its most recent SEC filing. Institutional investors and hedge funds own 36.01% of the company’s stock.

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.