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Jan. 28, 2020, 10:09 a.m. EST

Flowr Corp. shares rise as analyst welcomes management changes

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By Ciara Linnane

The Flowr Corp.'s U.S.-listed shares /zigman2/quotes/205237089/composite FLWPF +0.14% /zigman2/quotes/206895064/delayed CA:FLWR -2.13% rose 0.7% Tuesday, after the Canadian cannabis company announced a series of executive departures, including of its chief financial officer, chief strategy officer, chief research & innovation officer and chief policy and medical officer. The company said the changes are a realignment of the leadership culture to "drive improved operational and financial efficiencies." The company named Irina Hossu as CFO, replacing Alex Dann. Hossu was most recently vice president finance, corporate payments and emerging markets at Wex /zigman2/quotes/204805169/composite WEX -0.19% , a fintech company. She has also done stints at Revlon Canada /zigman2/quotes/207032377/composite REV +3.52% , Molson Coors /zigman2/quotes/205165133/composite TAP +0.44% and Xerox Canada /zigman2/quotes/201169674/composite XRX -3.17% . MKM analyst Bill Kirk said the moves should better align the company with its current strategy. "As the Canadian market has evolved from a focus on growth via easy capital toward a focus on profitability with less available capital, companies, like Flowr, are wise to pursue efficiencies," he wrote in a note to clients. "The need to re-size leadership should not be a surprise." The company is now in better shape to pursue recreational cannabis in Canada and cultivation in Portugal. Europe is a key differentiator for the company and Portugal offers a better climate, cheaper workforce and lower transportation costs, said the note. Kirk rates the stock a buy with a C$4 ($3.03) price target that is almost three times its current price. U.S.-listed shares have fallen 53% in the last 12 months, while the ETFMG Alternative Harvest ETF /zigman2/quotes/204332491/composite MJ +0.55% has fallen 49% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.44% has gained 23%.

/zigman2/quotes/205237089/composite
US : U.S.: OTC
$ 0.36
+0.0005 +0.14%
Volume: 3,795
Aug. 12, 2020 11:36a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$43.66 million
Rev. per Employee
N/A
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/zigman2/quotes/206895064/delayed
CA : Canada: TSX Venture
$ 0.46
-0.01 -2.13%
Volume: 4,030
Aug. 12, 2020 11:09a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$58.07 million
Rev. per Employee
N/A
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/zigman2/quotes/204805169/composite
US : U.S.: NYSE
$ 165.19
-0.32 -0.19%
Volume: 122,814
Aug. 12, 2020 12:18p
P/E Ratio
57.80
Dividend Yield
N/A
Market Cap
$7.30 billion
Rev. per Employee
$403,416
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/zigman2/quotes/207032377/composite
US : U.S.: NYSE
$ 8.54
+0.29 +3.52%
Volume: 95,628
Aug. 12, 2020 12:20p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$439.94 million
Rev. per Employee
$328,782
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/zigman2/quotes/205165133/composite
US : U.S.: NYSE
$ 38.38
+0.17 +0.44%
Volume: 689,578
Aug. 12, 2020 12:22p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$8.32 billion
Rev. per Employee
$606,738
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/zigman2/quotes/201169674/composite
US : U.S.: NYSE
$ 17.13
-0.56 -3.17%
Volume: 917,408
Aug. 12, 2020 12:22p
P/E Ratio
8.90
Dividend Yield
5.82%
Market Cap
$3.77 billion
Rev. per Employee
$303,395
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/zigman2/quotes/204332491/composite
US : U.S.: NYSE Arca
$ 12.73
+0.07 +0.55%
Volume: 331,710
Aug. 12, 2020 12:22p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,381.75
+48.06 +1.44%
Volume: 1.01B
Aug. 12, 2020 12:22p
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