On September 19, 2023, Flora Growth Corp made an exciting announcement regarding their latest financial move. The company revealed the pricing details of a remarkable $2.7 million registered direct offering and concurrent private placement. As a result, the market witnessed a slight dip in the company’s shares.
In this groundbreaking offering, interested investors can acquire one share and one warrant for the attractive price of $2.00. Flora Growth Corp, a leading vertically integrated cannabis company, has set its sights on becoming the ultimate industry giant. Their primary objective revolves around cultivating and producing the largest quantity of low-cost, naturally grown medicinal-grade cannabis oils and derivatives.
With a strong dedication to quality and sustainability, Flora Growth Corp aims to revolutionize the cannabis market and cater to the growing demand for therapeutic cannabis products.
Flora Growth Corp.
FLGC
Neutral
Updated on: 20/09/2023
Financial Health
Weak
Debt to equity ratio: Neutral
Price to earnings ratio: Sell
Price to book ratio: Buy
DCF: Strong Buy
ROE: Sell
FLGC Stock Performance on September 19, 2023: Volatility, Revenue Growth, and Positive Earnings Expectations
FLGC Stock Performance on September 19, 2023
On September 19, 2023, FLGC had an interesting trading day with notable movements.
The previous day’s closing price for FLGC was $2.39, but the stock opened lower on September 19 at $1.90. Throughout the day, the stock’s price fluctuated between a low of $1.46 and a high of $1.94.
The trading volume for FLGC on September 19 was 20,912 shares, which is relatively low compared to the average volume of 109,729 shares over the past three months.
FLGC’s market capitalization is $23.8 million, indicating that it is a relatively small company. However, it is worth noting that the company experienced substantial revenue growth in the previous year, with a growth rate of 313.93%.
On the earnings front, FLGC reported a negative growth rate of -110.83% in the previous year, indicating a decline in profitability. However, the company is expected to show positive growth this year, with a growth rate of +88.24%.
FLGC’s price-to-earnings ratio (P/E ratio) is listed as NM, which means it is not meaningful. The price-to-sales ratio is 0.47, indicating that the stock is trading at a relatively low valuation compared to its sales. The price-to-book ratio is 0.41, suggesting that the stock is undervalued based on its book value.
FLGC is scheduled to report its next earnings on November 27, 2023. Analysts are forecasting an EPS (earnings per share) of -$0.20 for the current quarter. In the previous year, FLGC reported an annual revenue of $37.2 million and a net loss of -$52.4 million. The net profit margin for FLGC is -141.01%.
In conclusion, FLGC had a volatile trading day on September 19, 2023, with a significant decrease in stock price compared to the previous day. The company has shown strong revenue growth in the past year, but its profitability has been negative. However, there are positive expectations for earnings growth this year.
FLGC Stock Analysis: Impressive Performance, Strong Buy Rating, and Promising 12-Month Forecast
FLGC stock had an impressive performance on September 19, 2023, based on the information provided. According to CNN Money, the 12-month price forecasts for Flora Growth Corp had a median target of $20.00, with a high estimate and a low estimate also at $20.00. This median estimate represents a significant increase of +1,260.54% from the last price of $1.47.
The consensus among one polled investment analyst is to buy stock in Flora Growth Corp, and this rating has remained unchanged since July.
Looking at the financials, Flora Growth Corp reported earnings per share of -$0.20 for the current quarter. While this may seem negative, it’s important to note that earnings per share can fluctuate and may not always reflect the true value of a company. Additionally, the company reported sales of $21.1 million, which suggests a healthy level of revenue generation.
Investors should keep an eye on Flora Growth Corp as it approaches its reporting date on November 27. This will provide further insights into the company’s financial performance and may impact its stock price.
Overall, with a strong buy rating from analysts and a significant increase in the 12-month price forecast, FLGC stock appears to be an attractive investment opportunity. However, as with any investment, it’s important for investors to conduct their own research and consider their risk tolerance before making any decisions.
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