In a report released today, Frederico Gomes from ATB Capital Markets downgraded Flowr (FLWPF – Research Report) to Sell, with a price target of C$0.04. The company’s shares closed last Tuesday at $0.05, close to its 52-week low of $0.03.
According to TipRanks.com, Gomes is a 1-star analyst with an average return of -12.9% and a 22.2% success rate. Gomes covers the Basic Materials sector, focusing on stocks such as Fire & Flower Holdings, Auxly Cannabis Group, and Khiron Life Sciences.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Flowr with a $0.03 average price target.
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Based on Flowr’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.54 million and GAAP net loss of $8.77 million. In comparison, last year the company earned revenue of $2.82 million and had a GAAP net loss of $9.72 million.
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The Flowr Corp. engages in the operation and building of cannabis cultivation facilities for the purpose of serving the medical and legalized adult-use markets. It operates through the FlowrRx and Flowr brands. The FlowrRx brand targets the wellness, health, and alternative treatment for patients. The Flowr brand focuses on the recreational use. The company was founded by Tom Flow and is headquartered in Toronto, Canada.
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