Aurora Cannabis (NASDAQ:ACB) Stock Rating Lowered by TD Securities

Aurora Cannabis (NASDAQ:ACB) was downgraded by equities research analysts at TD Securities from a “strong-buy” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Other analysts also recently issued research reports about the company. BMO Capital Markets raised Aurora Cannabis to a “hold” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded Aurora Cannabis from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 2nd. Wall Street Zen raised Aurora Cannabis from a “sell” rating to a “hold” rating in a research report on Sunday, September 13th. Finally, Zacks Research cut Aurora Cannabis from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce”.

Aurora Cannabis Stock Up 1.6%

Shares of ACB stock opened at $5.24 on Tuesday. 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 1 year low of $2.56 and a 1 year high of $6.36. The firm’s fifty day moving average price is $4.10 and its two-hundred day moving average price is $3.56. The firm has a market capitalization of $344.39 million, a P/E ratio of -3.72 and a beta of 0.65.

Aurora Cannabis (NASDAQ:ACB) last issued its quarterly 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 analysts’ expectations of $47.45 million. On average, equities analysts predict that Aurora Cannabis will post -0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. State of Wyoming raised its holdings in shares of Aurora Cannabis by 26.2% in the 3rd quarter. State of Wyoming now owns 25,303 shares of the company’s stock valued at $99,000 after purchasing an additional 5,250 shares during the period. Tidal Investments LLC lifted its stake in Aurora Cannabis by 1.2% in the 2nd 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 during the last quarter. Two Sigma Securities LLC bought a new position in Aurora Cannabis during the second quarter worth about $36,000. Finally, 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 purchasing an additional 8,990 shares during the period. 47.63% of the stock is currently owned by institutional investors and hedge funds.

About Aurora Cannabis

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.