Aurora Cannabis (NASDAQ:ACB) Shares Down 0.5% – Should You Sell?

Aurora Cannabis Inc. (NASDAQ:ACB) shares dropped 0.5% on Wednesday . The stock traded as low as $4.01 and last traded at $4.03. Approximately 1,470,064 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 1,930,029 shares. The stock had previously closed at $4.05.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ACB. BMO Capital Markets raised shares of Aurora Cannabis to a “hold” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Aurora Cannabis from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 26th. Wall Street Zen raised Aurora Cannabis from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded Aurora Cannabis from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Aurora Cannabis currently has a consensus rating of “Moderate Buy”.

Aurora Cannabis Trading Down 0.5%

The business has a 50 day moving average of $3.13 and a 200-day moving average of $3.32. The company has a current ratio of 5.36, a quick ratio of 2.80 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $261.31 million, a P/E ratio of -2.86 and a beta of 0.63.

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

Institutional Investors Weigh In On Aurora Cannabis

A number of hedge funds and other institutional investors have recently made changes to their positions in ACB. Two Sigma Investments LP lifted its position in Aurora Cannabis by 7,412.0% in the 3rd quarter. Two Sigma Investments LP now owns 1,149,869 shares of the company’s stock valued at $6,853,000 after acquiring an additional 1,134,562 shares in the last quarter. Millennium Management LLC boosted its stake in Aurora Cannabis by 563.7% in the 3rd quarter. Millennium Management LLC now owns 391,782 shares of the company’s stock worth $2,339,000 after purchasing an additional 332,750 shares during the period. Trexquant Investment LP bought a new position in Aurora Cannabis during the 4th quarter worth about $590,000. UBS Group AG increased its holdings in Aurora Cannabis by 136.8% during the 3rd quarter. UBS Group AG now owns 184,190 shares of the company’s stock worth $1,098,000 after purchasing an additional 106,391 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in shares of Aurora Cannabis by 6.0% in the 2nd quarter. Tidal Investments LLC now owns 1,509,483 shares of the company’s stock valued at $6,400,000 after purchasing an additional 86,045 shares during the period. 47.63% of the stock is currently owned by institutional investors and hedge funds.

Aurora Cannabis Company Profile

Aurora Cannabis Inc (NASDAQ: ACB) is a Canadian licensed producer of medical and consumer cannabis products headquartered in Edmonton, Alberta. Established in 2013, the company operates under Health Canada’s regulations to cultivate, process and distribute a range of cannabis-based offerings. Since its initial public listing in 2017, Aurora has grown into one of the country’s largest growers by cultivation capacity and production output.

The company’s core business spans the cultivation of dried flower, the extraction of cannabis oils and the development of value-added products such as softgels, capsules and topical treatments.