Aurora Cannabis (NASDAQ:ACB) Raised to “Hold” at Wall Street Zen

Aurora Cannabis (NASDAQ:ACB) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Several other analysts have also issued reports on the stock. Weiss Ratings upgraded shares of Aurora Cannabis from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 26th. Zacks Research upgraded shares of Aurora Cannabis from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Finally, BMO Capital Markets upgraded shares of Aurora Cannabis to a “hold” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Aurora Cannabis Stock Performance

Shares of ACB stock opened at $3.81 on Friday. The firm has a market capitalization of $247.04 million, a price-to-earnings ratio of -2.70 and a beta of 0.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.36 and a quick ratio of 2.80. The business has a fifty day moving average of $3.30 and a 200 day moving average of $3.34. Aurora Cannabis has a 1 year low of $2.56 and a 1 year high of $6.66.

Aurora Cannabis (NASDAQ:ACB) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.17. Aurora Cannabis had a negative net margin of 32.26% and a positive return on equity of 4.37%. The company had revenue of $47.62 million for the quarter, compared to analyst estimates of $47.45 million. As a group, research analysts expect that Aurora Cannabis will post -0.07 earnings per share for the current year.

Hedge Funds Weigh In On Aurora Cannabis

Several large investors have recently made changes to their positions in the stock. Two Sigma Securities LLC acquired a new position in Aurora Cannabis during the 2nd quarter worth about $36,000. State of Wyoming purchased a new position in Aurora Cannabis during the 2nd quarter valued at about $56,000. Baader Bank Aktiengesellschaft grew its position in Aurora Cannabis by 37.3% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 33,060 shares of the company’s stock valued at $108,000 after acquiring an additional 8,990 shares in the last quarter. Leonteq Securities AG acquired a new position in Aurora Cannabis in the 4th quarter valued at about $145,000. Finally, Silver Oak Securities Incorporated increased its stake in Aurora Cannabis by 71.3% during the first quarter. Silver Oak Securities Incorporated now owns 37,223 shares of the company’s stock worth $122,000 after purchasing an additional 15,491 shares during the period. 47.63% of the stock is currently owned by institutional investors and hedge funds.

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.