Aurora Cannabis (TSE:ACB) Stock Jumps 15.6% – Here’s Why

Aurora Cannabis Inc. (TSE:ACB)’s share price shot up 15.6% during mid-day trading on Monday. The company traded as high as C$6.51 and last traded at C$6.45. Approximately 914,036 shares traded hands during mid-day trading, an increase of 122% from the average session volume of 410,815 shares. The stock had previously closed at C$5.58.

Analysts Set New Price Targets

Several equities analysts have recently commented on ACB shares. Canaccord Genuity Group reduced their price objective on Aurora Cannabis from C$6.50 to C$5.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. TD reduced their target price on shares of Aurora Cannabis from C$10.00 to C$8.00 and set a “buy” rating on the stock in a research report on Friday, June 12th. ATB Cormark Capital Markets downgraded Aurora Cannabis from an “outperform” rating to a “tender” rating and dropped their target price for the stock from C$6.50 to C$5.60 in a report on Wednesday, August 19th. Finally, BMO Capital Markets upgraded shares of Aurora Cannabis to a “hold” rating in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$6.20.

Aurora Cannabis Stock Up 15.6%

The company’s 50 day moving average price is C$5.13 and its two-hundred day moving average price is C$4.70. The stock has a market cap of C$399.62 million, a P/E ratio of -3.32 and a beta of 0.42. The company has a current ratio of 5.36, a quick ratio of 2.48 and a debt-to-equity ratio of 4.30.

Aurora Cannabis (TSE:ACB) last issued its quarterly earnings data on Wednesday, August 5th. The company reported C($0.07) earnings per share (EPS) for the quarter. The business had revenue of C$67.55 million for the quarter. Aurora Cannabis had a negative net margin of 9.53% and a negative return on equity of 5.21%. Equities analysts forecast that Aurora Cannabis Inc. will post -0.22 earnings per share for the current year.

About Aurora Cannabis

Aurora Cannabis, headquartered in Edmonton, Canada, cultivates and sells medicinal and recreational cannabis through a portfolio of brands that includes Aurora, CanniMed, Daily Special, MedReleaf, and San Rafael ’71. Although the company primarily operates in Canada, it has expanded internationally through medical cannabis exporting agreements or cultivation facilities in more than 20 countries.