Update from Flora Growth Corp. (FLGC): A steady trajectory

Flora Growth Corp. (NASDAQ: FLGC) closed the day trading at $0.42 up 4.25% from the previous closing price of $0.40. In other words, the price has increased by $+0.0170 from its previous closing price. On the day, 668853 shares were traded. FLGC stock price reached its highest trading level at $0.4300 during the session, while it also had its lowest trading level at $0.3668.

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Ratios:

For a better understanding of FLGC, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 2.10 and its Current Ratio is at 3.20. In the meantime, Its Debt-to-Equity ratio is 0.06 whereas as Long-Term Debt/Eq ratio is at 0.04.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, ROTH Capital on October 13, 2021, initiated with a Buy rating and assigned the stock a target price of $10.

On June 23, 2021, MKM Partners started tracking the stock assigning a Buy rating and target price of $6.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 1.67 while its Price-to-Book (P/B) ratio in mrq is 0.51.

Stock Price History:

Over the past 52 weeks, FLGC has reached a high of $2.70, while it has fallen to a 52-week low of $0.40. The 50-Day Moving Average of the stock is 0.6782, while the 200-Day Moving Average is calculated to be 1.1012.

Shares Statistics:

Over the past 3-months, FLGC traded about 505.59K shares per day on average, while over the past 10 days, FLGC traded about 654.97k shares per day. A total of 76.94M shares are outstanding, with a floating share count of 68.03M. Insiders hold about 12.08% of the company’s shares, while institutions hold 6.00% stake in the company. Shares short for FLGC as of Oct 13, 2022 were 2.57M with a Short Ratio of 3.02M, compared to 1.16M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 3.34% and a Short% of Float of 3.56%.

Earnings Estimates

Current recommendations for the stock of the company come from 0 analysts. The consensus estimate for the next quarter is $0, with high estimates of $0 and low estimates of $0.

Analysts are recommending an EPS of between $0 and $0 for the fiscal current year, implying an average EPS of $0. EPS for the following year is -$0.49, with 5 analysts recommending between -$0.25 and -$0.64.

Revenue Estimates

Based on 5 analysts’ estimates, the company’s revenue will be $38.8M in the next fiscal year. The high estimate is $40.22M and the low estimate is $35.2M. The average revenue growth estimate for next year is up 332.10% from the average revenue estimate for this year.