Aurora Cannabis (NASDAQ:ACB) Trading 1.5% Higher – Still a Buy?

Shares of Aurora Cannabis Inc. (NASDAQ:ACB) rose 1.5% on Monday . The stock traded as high as $3.37 and last traded at $3.31. Approximately 564,092 shares changed hands during mid-day trading, a decline of 1% from the average daily volume of 571,621 shares. The stock had previously closed at $3.26.

Wall Street Analyst Weigh In

ACB has been the topic of several recent analyst reports. Canaccord Genuity Group began coverage on shares of Aurora Cannabis in a research report on Tuesday, January 27th. They set a “buy” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Aurora Cannabis in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold”.

Aurora Cannabis Trading Up 3.0%

The firm has a market cap of $193.88 million, a P/E ratio of -3.17 and a beta of 0.39. The stock has a 50 day simple moving average of $3.74 and a 200-day simple moving average of $4.47. The company has a current ratio of 3.06, a quick ratio of 1.48 and a debt-to-equity ratio of 0.06.

Aurora Cannabis (NASDAQ:ACB) last posted its earnings results on Wednesday, February 4th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Aurora Cannabis had a negative net margin of 23.46% and a negative return on equity of 0.04%. The firm had revenue of $68.59 million for the quarter, compared to the consensus estimate of $92.39 million. On average, equities research analysts expect that Aurora Cannabis Inc. will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Aurora Cannabis

Institutional investors and hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. raised its position in shares of Aurora Cannabis by 49.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 10,813 shares of the company’s stock valued at $46,000 after buying an additional 3,582 shares in the last quarter. Headlands Technologies LLC purchased a new position in Aurora Cannabis in the fourth quarter worth about $58,000. Northwestern Mutual Wealth Management Co. increased its stake in Aurora Cannabis by 1,808.9% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 10,518 shares of the company’s stock worth $63,000 after acquiring an additional 9,967 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in Aurora Cannabis during the second quarter valued at approximately $68,000. Finally, Squarepoint Ops LLC purchased a new stake in Aurora Cannabis during the fourth quarter valued at approximately $69,000. 47.63% of the stock is owned by hedge funds and other institutional investors.

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.