Aurora Cannabis (NASDAQ:ACB) Stock Bumped Down to Hold by Zacks Research

Zacks Research downgraded shares of Aurora Cannabis (NASDAQ:ACB) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks reports.

A number of other brokerages have also weighed in on ACB. BMO Capital Markets upgraded shares of Aurora Cannabis to a “hold” rating in a report on Wednesday, August 5th. Weiss Ratings raised shares of Aurora Cannabis from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday. Finally, Wall Street Zen upgraded shares of Aurora Cannabis from a “sell” rating to a “hold” rating in a research report on Sunday, September 13th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold”.

Aurora Cannabis Price Performance

Shares of Aurora Cannabis stock opened at $4.59 on Monday. The firm has a market capitalization of $301.65 million, a PE ratio of -3.26 and a beta of 0.63. The company has a current ratio of 5.36, a quick ratio of 2.80 and a debt-to-equity ratio of 0.03. Aurora Cannabis has a 12 month low of $2.56 and a 12 month high of $6.66. The business’s 50-day moving average price is $3.75 and its 200-day moving average price is $3.39.

Aurora Cannabis (NASDAQ:ACB) last released its earnings results on Wednesday, August 5th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.17. The company had revenue of $47.62 million during the quarter, compared to the consensus estimate of $47.45 million. Aurora Cannabis had a positive return on equity of 4.37% and a negative net margin of 32.26%. Sell-side analysts forecast that Aurora Cannabis will post -0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC raised its holdings in Aurora Cannabis by 1.2% during the 2nd quarter. Tidal Investments LLC now owns 1,264,494 shares of the company’s stock valued at $3,528,000 after buying an additional 14,827 shares during the last quarter. Two Sigma Securities LLC bought a new stake in Aurora Cannabis in the 2nd quarter worth $36,000. State of Wyoming purchased a new position in shares of Aurora Cannabis in the second quarter valued at about $56,000. Baader Bank Aktiengesellschaft increased its position in shares of Aurora Cannabis by 37.3% in the first quarter. Baader Bank Aktiengesellschaft now owns 33,060 shares of the company’s stock valued at $108,000 after acquiring an additional 8,990 shares during the period. Finally, Leonteq Securities AG raised its stake in shares of Aurora Cannabis by 24.7% during the first quarter. Leonteq Securities AG now owns 42,839 shares of the company’s stock valued at $140,000 after acquiring an additional 8,472 shares during the last quarter. Institutional investors own 47.63% of the company’s stock.

Aurora Cannabis Company Profile

Aurora Cannabis Inc is a Canadian cannabis company focused primarily on the production, distribution and sale of medical cannabis. The company offers cannabis products such as dried flower, pre-rolls, oils, softgels, capsules and other formulations through its medical and consumer brands.

Founded in 2013 and headquartered in Edmonton, Alberta, Aurora serves adult-use and medical markets in Canada and supplies medical cannabis to selected international markets. Its international operations and partnerships have included markets in Europe, Australia and other regions where cannabis is permitted for medical use.

Aurora sells products under brands including Aurora, CanniMed, MedReleaf and San Rafael ’71.