Aurora Cannabis (NASDAQ:ACB) Issues Quarterly Earnings Results, Beats Expectations By $999.07 EPS

Aurora Cannabis (NASDAQ:ACB) posted its quarterly earnings data on Thursday. The company reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $999.07, Zacks reports. Aurora Cannabis had a negative return on equity of 0.04% and a negative net margin of 23.46%.

Aurora Cannabis Trading Down 2.7%

Shares of ACB stock opened at $3.29 on Thursday. The company has a quick ratio of 1.48, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $3.46 and a two-hundred day moving average price of $3.85. Aurora Cannabis has a 12-month low of $3.07 and a 12-month high of $6.66. The firm has a market cap of $201.82 million, a P/E ratio of -3.05 and a beta of 0.53.

Institutional Investors Weigh In On Aurora Cannabis

Several hedge funds have recently added to or reduced their stakes in ACB. Headlands Technologies LLC bought a new stake in Aurora Cannabis during the fourth quarter worth about $58,000. Northwestern Mutual Wealth Management Co. lifted 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 purchasing an additional 9,967 shares during the last quarter. Engineers Gate Manager LP bought a new stake in Aurora Cannabis during the second quarter worth about $68,000. Squarepoint Ops LLC bought a new stake in Aurora Cannabis during the fourth quarter worth about $69,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Aurora Cannabis during the third quarter worth about $100,000. Institutional investors own 47.63% of the company’s stock.

Wall Street Analysts Forecast Growth

ACB has been the subject of several research analyst reports. Wall Street Zen raised Aurora Cannabis from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings raised Aurora Cannabis from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

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.