Aurora Cannabis (NYSE:ACB) Shares Gap Up to $7.94

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Aurora Cannabis Inc (NYSE:ACB) gapped up prior to trading on Tuesday . The stock had previously closed at $8.05, but opened at $7.94. Aurora Cannabis shares last traded at $7.78, with a volume of 7717044 shares.

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Aurora Cannabis in a research report on Wednesday, June 5th. They issued a “hold” rating for the company. Zacks Investment Research upgraded shares of Aurora Cannabis from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. Desjardins assumed coverage on shares of Aurora Cannabis in a research report on Thursday, April 25th. They issued a “buy” rating and a $9.07 target price for the company. Bank of America assumed coverage on shares of Aurora Cannabis in a research report on Wednesday, April 17th. They issued a “buy” rating and a $11.00 target price for the company. Finally, TheStreet upgraded shares of Aurora Cannabis from a “d+” rating to a “c” rating in a research report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Aurora Cannabis has a consensus rating of “Buy” and an average target price of $9.86.

The company has a market capitalization of $7.89 billion, a P/E ratio of 64.58 and a beta of 2.80. The company has a current ratio of 2.37, a quick ratio of 1.98 and a debt-to-equity ratio of 0.10.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Morgan Stanley increased its stake in shares of Aurora Cannabis by 30.8% during the 1st quarter. Morgan Stanley now owns 11,804,752 shares of the company’s stock worth $106,951,000 after purchasing an additional 2,776,706 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Aurora Cannabis by 39.2% during the 1st quarter. AQR Capital Management LLC now owns 7,102,892 shares of the company’s stock worth $64,268,000 after purchasing an additional 1,999,645 shares during the last quarter. Norges Bank acquired a new position in shares of Aurora Cannabis during the 4th quarter worth $30,915,000. Swiss National Bank increased its stake in shares of Aurora Cannabis by 5.9% during the 1st quarter. Swiss National Bank now owns 2,443,965 shares of the company’s stock worth $22,117,000 after purchasing an additional 136,300 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Aurora Cannabis by 1.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,357,247 shares of the company’s stock worth $21,320,000 after purchasing an additional 42,283 shares during the last quarter. Institutional investors own 9.02% of the company’s stock.

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Aurora Cannabis Company Profile (NYSE:ACB)

Aurora Cannabis Inc produces and distributes medical cannabis products. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain, from facility engineering and design to cannabis breeding, genetics research, production, derivatives, high value-add product development, home cultivation, wholesale, and retail distribution.

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