Aurora Cannabis (NASDAQ:ACB) Shares Cross Above 50-Day Moving Average – Time to Sell?

Aurora Cannabis Inc. (NASDAQ:ACB) shares crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $4.03 and traded as high as $4.16. Aurora Cannabis shares last traded at $4.15, with a volume of 578,295 shares traded.

Analyst Upgrades and Downgrades

ACB has been the subject of several recent research reports. Weiss Ratings raised Aurora Cannabis from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 2nd. Wall Street Zen raised Aurora Cannabis from a “sell” rating to a “hold” rating in a research note on Sunday, September 13th. Zacks Research downgraded Aurora Cannabis from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Finally, BMO Capital Markets upgraded Aurora Cannabis to a “hold” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Aurora Cannabis currently has an average rating of “Hold”.

Aurora Cannabis Price Performance

The firm’s 50-day moving average is $4.03 and its 200-day moving average is $3.55.

Aurora Cannabis (NASDAQ:ACB) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.17. The business had revenue of $47.62 million during the quarter, compared to the consensus estimate of $47.45 million. Equities analysts forecast that Aurora Cannabis Inc. will post -0.07 earnings per share for the current year.

Hedge Funds Weigh In On Aurora Cannabis

Hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its holdings in shares of Aurora Cannabis by 1.2% in the second quarter. Tidal Investments LLC now owns 1,264,494 shares of the company’s stock valued at $3,528,000 after purchasing an additional 14,827 shares in the last quarter. Leonteq Securities AG grew its holdings in Aurora Cannabis by 24.7% during the first quarter. Leonteq Securities AG now owns 42,839 shares of the company’s stock worth $140,000 after buying an additional 8,472 shares in the last quarter. Silver Oak Securities Incorporated grew its holdings in Aurora Cannabis by 71.3% during the first quarter. Silver Oak Securities Incorporated now owns 37,223 shares of the company’s stock worth $122,000 after buying an additional 15,491 shares in the last quarter. Baader Bank Aktiengesellschaft grew its holdings in Aurora Cannabis by 37.3% during the first quarter. Baader Bank Aktiengesellschaft now owns 33,060 shares of the company’s stock worth $108,000 after buying an additional 8,990 shares in the last quarter. Finally, State of Wyoming purchased a new stake in Aurora Cannabis in the 2nd quarter valued at $56,000. Institutional investors and hedge funds own 47.63% of the company’s stock.

Aurora Cannabis Company Profile

Aurora Cannabis Inc is a Canadian cannabis company headquartered in Edmonton, Alberta. Founded in 2013, the company develops, produces, distributes and sells cannabis and cannabis-derived products for medical and adult-use markets. Its shares trade on the Toronto Stock Exchange and the Nasdaq under the symbol ACB.

Aurora’s product portfolio includes dried cannabis flower, pre-rolls, cannabis oils, softgels, vapes and other cannabis extracts. The company markets products through brands such as Aurora, San Rafael ’71, Daily Special and CanniMed, with offerings varying by market and applicable regulations.

The company serves Canada’s regulated adult-use and medical cannabis markets and has expanded its medical cannabis business internationally.