Aurora Cannabis (NASDAQ:ACB) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Aurora Cannabis (NASDAQ:ACB) to a hold rating in a research report report published on Wednesday,Zacks.com reports.

ACB has been the subject of several other reports. Weiss Ratings raised Aurora Cannabis from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, June 16th. Wall Street Zen raised shares of Aurora Cannabis from a “strong sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Aurora Cannabis Price Performance

Shares of Aurora Cannabis stock opened at $2.99 on Wednesday. The stock has a market capitalization of $185.20 million, a price-to-earnings ratio of -2.12 and a beta of 0.58. The firm’s 50-day moving average price is $2.90 and its two-hundred day moving average price is $3.35. The company has a current ratio of 5.36, a quick ratio of 3.32 and a debt-to-equity ratio of 0.03. Aurora Cannabis has a 1-year low of $2.56 and a 1-year high of $6.66.

Aurora Cannabis (NASDAQ:ACB) last announced its earnings results on Thursday, June 11th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.14. Aurora Cannabis had a positive return on equity of 4.37% and a negative net margin of 32.26%.The company had revenue of $60.98 million during the quarter, compared to analyst estimates of $54.42 million. On average, equities analysts predict that Aurora Cannabis will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aurora Cannabis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC lifted its stake in Aurora Cannabis by 93.5% in the fourth quarter. Barclays PLC now owns 33,709 shares of the company’s stock valued at $142,000 after buying an additional 16,292 shares during the period. Headlands Technologies LLC acquired a new position in shares of Aurora Cannabis during the 4th quarter worth about $58,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Aurora Cannabis during the 3rd quarter worth about $100,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Aurora Cannabis by 1,808.9% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 10,518 shares of the company’s stock valued at $63,000 after acquiring an additional 9,967 shares during the last quarter. Finally, State of Wyoming increased its stake in shares of Aurora Cannabis by 10.5% in the 2nd quarter. State of Wyoming now owns 23,722 shares of the company’s stock valued at $101,000 after acquiring an additional 2,246 shares during the last quarter. Institutional investors own 47.63% of the company’s stock.

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.