Fintel reports that on November 25, 2024, Aegis Capital initiated coverage of Flora Growth (NasdaqCM:FLGC) with a Buy recommendation.
Analyst Price Forecast Suggests 166.67% Upside
As of November 21, 2024, the average one-year price target for Flora Growth is $4.08/share. The forecasts range from a low of $4.04 to a high of $4.20. The average price target represents an increase of 166.67% from its latest reported closing price of $1.53 / share.
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The projected annual revenue for Flora Growth is 80MM, an increase of 24.32%. The projected annual non-GAAP EPS is -0.01.
What is the Fund Sentiment?
There are 27 funds or institutions reporting positions in Flora Growth. This is an increase of 2 owner(s) or 8.00% in the last quarter. Average portfolio weight of all funds dedicated to FLGC is 0.00%, an increase of 334.20%. Total shares owned by institutions decreased in the last three months by 9.03% to 408K shares.
What are Other Shareholders Doing?
Renaissance Technologies holds 131K shares representing 0.98% ownership of the company. In its prior filing, the firm reported owning 160K shares , representing a decrease of 21.70%. The firm increased its portfolio allocation in FLGC by 9.29% over the last quarter.
Geode Capital Management holds 106K shares representing 0.80% ownership of the company. In its prior filing, the firm reported owning 95K shares , representing an increase of 10.95%. The firm decreased its portfolio allocation in FLGC by 18.59% over the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 89K shares representing 0.66% ownership of the company. In its prior filing, the firm reported owning 23K shares , representing an increase of 74.02%. The firm increased its portfolio allocation in FLGC by 76.58% over the last quarter.
FSMAX - Fidelity Extended Market Index Fund holds 73K shares representing 0.54% ownership of the company. In its prior filing, the firm reported owning 32K shares , representing an increase of 56.43%. The firm increased its portfolio allocation in FLGC by 84.68% over the last quarter.
Citadel Advisors holds 21K shares representing 0.16% ownership of the company.
Flora Growth Background Information
(This description is provided by the company.)
Flora is a cannabis company that leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. As the operator of one of the largest outdoor cultivation facilities, Flora strives to market a higher-quality premium product at below market prices. By prioritizing natural ingredients and value-chain sustainability across its portfolio, Flora creates premium products that help consumers restore and thrive.
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