A share price of Flora Growth Corp [FLGC] is currently trading at $1.58, up 33.90%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The FLGC shares have gain 43.64% over the last week, with a monthly amount glided 57.21%, and seem to be holding up well over a long-time horizon.
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On 22, March 2024, Flora Growth Corp. Provides Update on Germany’s Cannabis Legalization. In a post published today on Yahoo Finance, Fort Lauderdale, Florida–(Newsfile Corp. – March 22, 2024) – Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a cannabis focused consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution around the world, commends Germany’s upper house lawmakers for passing the recreational cannabis legalization bill, after it was approved by the lower house last month. The law is now expected to come into effect on April 1, 2024.
From an analyst’s perspective:
Flora Growth Corp [NASDAQ: FLGC] stock has seen the most recent analyst activity on October 13, 2021, when ROTH Capital initiated its Buy rating and assigned the stock a price target of $10. Previously, MKM Partners started tracking the stock with Buy rating on June 23, 2021, and set its price target to $6.
Flora Growth Corp experienced fluctuations in its stock price throughout the past year between $0.63 and $6.20. Currently, Wall Street analysts expect the stock to reach $340 within the next 12 months. Flora Growth Corp [NASDAQ: FLGC] shares were valued at $1.58 at the most recent close of the market. An investor can expect a potential return of 21418.99% based on the average FLGC price forecast.
Analyzing the FLGC fundamentals
Trailing Twelve Months sales for Flora Growth Corp [NASDAQ:FLGC] were 70.37M which represents 60.86% growth. Gross Profit Margin for this corporation currently stands at 0.25% with Operating Profit Margin at -0.3%, Pretax Profit Margin comes in at -0.79%, and Net Profit Margin reading is -0.85%. To continue investigating profitability, this company’s Return on Assets is posted at -1.89, Equity is -1.76 and Total Capital is -1.42. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.22.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 1.2900 points at the first support level, and at 1.0000 for the second support level. However, for the 1st resistance point, the stock is sitting at 1.7600, and for the 2nd resistance point, it is at 1.9400.
Flora Growth Corp [FLGC] reported earnings per share of $0.16 for its fiscal quarter that ended on 9/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.2/share, meaning a difference of $0.36 and a surprise factor of 180.00%. By comparison, the stated earnings for the previous quarter ended on 6/29/2023 were -$6.58 per share as compared to estimates of -$0.4 per share, a difference of $-6.18 representing a surprise of -1,545.00%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Flora Growth Corp [NASDAQ:FLGC] is 1.44. In addition, the Quick Ratio stands at 0.80 and the Cash Ratio stands at 0.29. Considering the valuation of this stock, the price to sales ratio is 0.18, the price to book ratio is 0.91.
