Flora Growth Corp’s recent filing unveils that its CEO Starke Clifford acquired Company’s shares for reported $1.0 million on Apr 08 ’24. In the deal valued at $1.90 per share,526,315 shares were bought. As a result of this transaction, Starke Clifford now holds 565,714 shares worth roughly $1.23 million.
ROTH Capital initiated its Flora Growth Corp [FLGC] rating to a Buy in a research note published on October 13, 2021; the price target was $10. A number of analysts have revised their coverage, including MKM Partners’s analysts, who began to cover the stock in late June with a ‘”a Buy”‘ rating.
Price Performance Review of FLGC
On Tuesday, Flora Growth Corp [NASDAQ:FLGC] saw its stock fall -4.41% to $2.17. Over the last five days, the stock has gained 5.85%. Flora Growth Corp shares have risen nearly 60.74% since the year began. Nevertheless, the stocks have fallen -54.45% over the past one year. While a 52-week high of $5.48 was reached on 03/28/24, a 52-week low of $0.63 was recorded on 02/15/24. SMA at 50 days reached $1.31, while 200 days put it at $1.60. A total of 0.9 million shares were traded, compared to the trading of 2.27 million shares in the previous session.
Levels Of Support And Resistance For FLGC Stock
The 24-hour chart illustrates a support level at 2.06, which if violated will result in even more drops to 1.94. On the upside, there is a resistance level at 2.35. A further resistance level may holdings at 2.52. The Relative Strength Index (RSI) on the 14-day chart is 59.83, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.25, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 40.83%. Stochastics %K at 64.73% indicates the stock is a holding.
How much short interest is there in Flora Growth Corp?
A steep rise in short interest was recorded in Flora Growth Corp stocks on Mar 28, 2024, growing by 0.79 million shares to a total of 0.92 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 0.13 million shares. There was a rise of 85.79%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 13.61% of the overall stock float, the days-to-cover ratio (short ratio) rose to 0.63.
