Zacks Investment Research upgraded shares of Aurora Cannabis (NYSE:ACB) from a sell rating to a hold rating in a research note published on Thursday morning, Zacks.com reports.

According to Zacks, “Aurora Cannabis Inc is a Canada-based company engaged in the production and distribution of medical cannabis. The Company is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis and hemp production, derivatives, home cultivation, wholesale and retail distribution. The Company’s purpose-built facilities, which integrate technologies across all processes, are defined by automation and customization. The Company has a funded capacity of more than 500,000 kilograms per year, as well as sales and operations in 24 countries across 5 continents. “

Other analysts also recently issued reports about the stock. Bank of America downgraded shares of Aurora Cannabis from a buy rating to a neutral rating and set a $7.30 price objective on the stock. in a report on Thursday, July 18th. Compass Point started coverage on shares of Aurora Cannabis in a report on Monday, July 8th. They issued a neutral rating on the stock. Piper Jaffray Companies started coverage on shares of Aurora Cannabis in a report on Monday, August 12th. They issued a neutral rating and a $7.00 price objective on the stock. Stifel Nicolaus started coverage on shares of Aurora Cannabis in a report on Wednesday, June 5th. They set a hold rating on the stock. Finally, LADENBURG THALM/SH SH started coverage on shares of Aurora Cannabis in a report on Wednesday, July 17th. They set a buy rating and a $9.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $8.23.

Shares of ACB stock traded up $0.09 during trading hours on Thursday, hitting $5.98. The company’s stock had a trading volume of 10,682,971 shares, compared to its average volume of 11,214,948. The company has a 50 day moving average of $6.07 and a 200 day moving average of $7.67. The stock has a market cap of $6.41 billion, a PE ratio of -27.18 and a beta of 2.47. The company has a current ratio of 2.37, a quick ratio of 1.98 and a debt-to-equity ratio of 0.10. Aurora Cannabis has a 12-month low of $4.58 and a 12-month high of $12.52.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Aurora Cannabis by 247.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 285,802 shares of the company’s stock worth $2,244,000 after buying an additional 203,468 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Aurora Cannabis during the second quarter worth $54,000. Toronto Dominion Bank boosted its holdings in Aurora Cannabis by 13.1% during the second quarter. Toronto Dominion Bank now owns 656,035 shares of the company’s stock worth $5,139,000 after buying an additional 75,857 shares in the last quarter. Atria Investments LLC purchased a new stake in Aurora Cannabis during the second quarter worth $587,000. Finally, RFG Advisory LLC boosted its holdings in Aurora Cannabis by 25.4% during the second quarter. RFG Advisory LLC now owns 21,395 shares of the company’s stock worth $169,000 after buying an additional 4,338 shares in the last quarter. 8.89% of the stock is currently owned by hedge funds and other institutional investors.

About Aurora Cannabis

Aurora Cannabis Inc produces and distributes medical cannabis products. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain, from facility engineering and design to cannabis breeding, genetics research, production, derivatives, high value-add product development, home cultivation, wholesale, and retail distribution.

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