Aurora Cannabis (NASDAQ:ACB) Upgraded by Wall Street Zen to Sell Rating

Wall Street Zen upgraded shares of Aurora Cannabis (NASDAQ:ACB) from a strong sell rating to a sell rating in a research report released on Saturday morning.

A number of other analysts have also recently commented on the company. Canaccord Genuity Group initiated coverage on Aurora Cannabis in a research report on Tuesday, January 27th. They issued a “buy” rating on the stock. Weiss Ratings raised Aurora Cannabis from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Aurora Cannabis Stock Performance

Shares of ACB opened at $3.41 on Friday. The company has a quick ratio of 1.48, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average price is $3.48 and its 200-day moving average price is $4.07. Aurora Cannabis has a 52 week low of $3.07 and a 52 week high of $6.66. The stock has a market cap of $201.57 million, a P/E ratio of -3.16 and a beta of 0.51.

Aurora Cannabis (NASDAQ:ACB) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Aurora Cannabis had a negative return on equity of 0.04% and a negative net margin of 23.46%.The company had revenue of $68.59 million during the quarter, compared to the consensus estimate of $92.39 million. Equities research analysts anticipate that Aurora Cannabis will post 0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aurora Cannabis

Hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its holdings in 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 worth $63,000 after acquiring an additional 9,967 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in Aurora Cannabis by 49.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 10,813 shares of the company’s stock worth $46,000 after acquiring an additional 3,582 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new position in Aurora Cannabis in the 3rd quarter worth approximately $81,000. Headlands Technologies LLC purchased a new position in Aurora Cannabis in the 4th quarter worth approximately $58,000. Finally, Engineers Gate Manager LP purchased a new position in Aurora Cannabis in the 2nd quarter worth approximately $68,000. 47.63% of the stock is currently owned by hedge funds and other institutional investors.

About Aurora Cannabis

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.