Flora Growth Corp. (FLGC)

Flora Growth Corp. Forecasted to Earn Q2 2024 Earnings of ($0.02) Per Share (NASDAQ:FLGC)

Flora Growth Corp. (NASDAQ:FLGC – Free Report) – Stock analysts at Roth Capital raised their Q2 2024 EPS estimates for shares of Flora Growth in a report released on Thursday, May 16th. Roth Capital analyst W. Kirk now anticipates that the company will earn ($0.02) per share for the quarter, up from their prior forecast of ($0.10). The consensus estimate for Flora Growth’s current full-year earnings is ($0.39) per share. Roth Capital also issued estimates for Flora Growth’s Q3 2024 earnings at ($0.01) EPS, Q4 2024 earnings at ($0.01) EPS, FY2024 earnings at ($0.30) EPS and FY2025 earnings at $0.48 EPS. Separately, Roth Mkm restated a “buy” rating and set a $6.00 price objective (down previously from $7.00) on shares of Flora Growth in a research report on Thursday. Check Out Our Latest Analysis on FLGC Flora Growth Trading Up 0.8 % Shares of Flora Growth stock opened at $1.31 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.79 and a current ratio of 1.13. Flora Growth has a one year low of $0.63 and a one year high of $5.48. The firm has a fifty day moving average of $1.67 and a two-hundred day moving average of $1.34. Flora Growth (NASDAQ:FLGC – Get Free Report) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The firm had revenue of $18.03 million for the quarter, compared to analysts’ expectations of $19.04 million. Flora Growth had a negative return on equity of 144.44% and a negative net margin of 75.95%. Insider Activity In related news, CEO Clifford Starke purchased 526,315 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was acquired at an average price of $1.90 per share, for a total transaction of $999,998.50. Following the acquisition, the chief executive officer now directly owns 565,714 shares of the company’s stock, valued at approximately $1,074,856.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 17.60% of the company’s stock. Institutional Investors Weigh In On Flora Growth A hedge fund recently bought a new stake in Flora Growth stock. Armistice Capital LLC acquired a new stake in Flora Growth Corp. (NASDAQ:FLGC – Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 447,623 shares of the company’s stock, valued at approximately $519,000. Armistice Capital LLC owned about 5.45% of Flora Growth at the end of the most recent quarter. 36.01% of the stock is owned by institutional investors. Flora Growth Company Profile (Get Free Report) Flora Growth Corp., together with its subsidiaries, engages in the growth, cultivation, and development of medicinal cannabis and medicinal cannabis derivative products worldwide. It operates through three segments: House of Brands, Commercial and Wholesale, and Pharmaceuticals. The company cultivates, processes, and supplies medicinal-grade cannabis flower, and cannabis derived medical and wellness products.