Piper Jaffray Companies assumed coverage on shares of Aurora Cannabis (NYSE:ACB) in a research report sent to investors on Monday morning, Briefing.com Automated Import reports. The firm issued a neutral rating and a $7.00 target price on the stock. Piper Jaffray Companies also issued estimates for Aurora Cannabis’ Q4 2019 earnings at ($0.02) EPS, FY2019 earnings at ($0.26) EPS, Q1 2020 earnings at ($0.02) EPS, Q2 2020 earnings at ($0.02) EPS, Q3 2020 earnings at ($0.01) EPS, Q4 2020 earnings at $0.00 EPS, FY2020 earnings at $0.05 EPS, Q1 2021 earnings at $0.01 EPS, Q2 2021 earnings at $0.01 EPS, Q3 2021 earnings at $0.02 EPS, Q4 2021 earnings at $0.02 EPS and FY2021 earnings at $0.05 EPS.
ACB has been the subject of several other reports. Compass Point assumed coverage on Aurora Cannabis in a research report on Monday, July 8th. They issued a neutral rating for the company. LADENBURG THALM/SH SH assumed coverage on Aurora Cannabis in a research report on Wednesday, July 17th. They issued a buy rating and a $9.00 price target for the company. Desjardins assumed coverage on Aurora Cannabis in a research report on Thursday, April 25th. They issued a buy rating and a $9.07 price target for the company. Bank of America cut Aurora Cannabis from a buy rating to a neutral rating and set a $7.30 price target for the company. in a research report on Thursday, July 18th. Finally, ValuEngine cut Aurora Cannabis from a buy rating to a hold rating in a research report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $8.23.
Shares of NYSE ACB opened at $6.09 on Monday. The stock has a market capitalization of $6.70 billion, a PE ratio of 50.75 and a beta of 2.44. Aurora Cannabis has a fifty-two week low of $4.45 and a fifty-two week high of $12.52. 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 fifty day moving average of $6.90.
A number of institutional investors have recently bought and sold shares of ACB. ETF Managers Group LLC purchased a new position in Aurora Cannabis during the second quarter worth about $88,613,000. Norges Bank purchased a new position in Aurora Cannabis during the fourth quarter worth about $30,915,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Aurora Cannabis by 158.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,302,496 shares of the company’s stock worth $20,837,000 after buying an additional 1,410,446 shares in the last quarter. Bank of America Corp DE purchased a new position in Aurora Cannabis during the fourth quarter worth about $6,021,000. Finally, JPMorgan Chase & Co. grew its position in Aurora Cannabis by 56.9% during the second quarter. JPMorgan Chase & Co. now owns 2,609,856 shares of the company’s stock worth $22,680,000 after buying an additional 946,887 shares in the last quarter. Institutional investors and hedge funds own 9.10% of the company’s stock.
About Aurora Cannabis
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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