Aurora Cannabis (NASDAQ:ACB) Research Coverage Started at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Aurora Cannabis (NASDAQ:ACB) in a research report released on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating on the stock.

ACB has been the topic of a number of other research reports. Zacks Research upgraded shares of Aurora Cannabis from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aurora Cannabis in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Aurora Cannabis currently has an average rating of “Moderate Buy”.

Aurora Cannabis Stock Down 3.2%

ACB stock opened at $4.18 on Tuesday. The business’s 50 day simple moving average is $4.50 and its 200 day simple moving average is $4.82. Aurora Cannabis has a 1-year low of $3.42 and a 1-year high of $6.91. The firm has a market capitalization of $236.92 million, a PE ratio of -6.06 and a beta of 0.31. The company has a current ratio of 3.41, a quick ratio of 1.63 and a debt-to-equity ratio of 0.06.

Aurora Cannabis (NASDAQ:ACB) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. The firm had revenue of $64.88 million during the quarter, compared to analysts’ expectations of $86.45 million. Aurora Cannabis had a negative net margin of 15.96% and a negative return on equity of 0.58%. As a group, research analysts anticipate that Aurora Cannabis will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Aurora Cannabis by 1,808.9% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 10,518 shares of the company’s stock valued at $63,000 after buying an additional 9,967 shares during the period. Wealthcare Advisory Partners LLC bought a new stake in shares of Aurora Cannabis during the 3rd quarter valued at $81,000. Headlands Technologies LLC acquired a new stake in shares of Aurora Cannabis during the 2nd quarter worth $66,000. Engineers Gate Manager LP bought a new position in shares of Aurora Cannabis in the second quarter worth $68,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Aurora Cannabis in the third quarter valued at about $100,000. 47.63% of the stock is owned by institutional investors.

About Aurora Cannabis

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.