ValuEngine Downgrades Aurora Cannabis (NYSE:ACB) to Hold

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ValuEngine lowered shares of Aurora Cannabis (NYSE:ACB) from a buy rating to a hold rating in a report released on Friday, ValuEngine reports.

A number of other analysts have also commented on ACB. Bank of America lowered shares of Aurora Cannabis from a buy rating to a neutral rating and set a $7.30 price target on the stock. in a research report on Thursday, July 18th. TheStreet raised shares of Aurora Cannabis from a d+ rating to a c rating in a research report on Thursday, April 4th. Stifel Nicolaus assumed coverage on shares of Aurora Cannabis in a research report on Wednesday, June 5th. They set a hold rating on the stock. Desjardins assumed coverage on shares of Aurora Cannabis in a research report on Thursday, April 25th. They set a buy rating and a $9.07 price target on the stock. Finally, Zacks Investment Research raised shares of Aurora Cannabis from a sell rating to a hold rating in a research report on Tuesday, July 30th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Aurora Cannabis has an average rating of Hold and an average target price of $8.72.

Shares of ACB stock opened at $6.19 on Friday. The stock has a fifty day simple moving average of $7.06. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.98 and a current ratio of 2.37. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 51.58 and a beta of 2.44. Aurora Cannabis has a 12 month low of $4.05 and a 12 month high of $12.52.

Aurora Cannabis (NYSE:ACB) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.05). The business had revenue of $49.00 million during the quarter, compared to the consensus estimate of $50.92 million. Aurora Cannabis had a positive return on equity of 1.24% and a negative net margin of 122.65%. As a group, equities analysts predict that Aurora Cannabis will post -0.23 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Aurora Cannabis in the fourth quarter valued at $30,915,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Aurora Cannabis by 158.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,302,496 shares of the company’s stock valued at $20,837,000 after purchasing an additional 1,410,446 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Aurora Cannabis in the fourth quarter valued at $6,517,000. Bank of America Corp DE acquired a new position in shares of Aurora Cannabis in the fourth quarter valued at $6,021,000. Finally, Deutsche Bank AG acquired a new position in shares of Aurora Cannabis in the fourth quarter valued at $3,105,000. 9.04% of the stock is currently owned by hedge funds and other institutional investors.

Aurora Cannabis Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Aurora Cannabis (NYSE:ACB)

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