Aurora Cannabis (NASDAQ:ACB) Now Covered by Canaccord Genuity Group

Research analysts at Canaccord Genuity Group started coverage on shares of Aurora Cannabis (NASDAQ:ACB) in a report issued on Tuesday. The brokerage set a “buy” rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Cannabis in a research report on Wednesday, January 21st. Zacks Research upgraded Aurora Cannabis from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Aurora Cannabis Price Performance

Shares of NASDAQ ACB traded up $0.05 during mid-day trading on Tuesday, reaching $4.37. The company’s stock had a trading volume of 77,816 shares, compared to its average volume of 1,018,750. Aurora Cannabis has a 52 week low of $3.42 and a 52 week high of $6.91. The stock has a fifty day moving average of $4.50 and a two-hundred day moving average of $4.82. The firm has a market capitalization of $247.41 million, a PE ratio of -6.30 and a beta of 0.31. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.41 and a quick ratio of 1.63.

Aurora Cannabis (NASDAQ:ACB) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. Aurora Cannabis had a negative return on equity of 0.58% and a negative net margin of 15.96%.The firm had revenue of $64.88 million during the quarter, compared to analyst estimates of $86.45 million. As a group, sell-side analysts anticipate that Aurora Cannabis will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Aurora Cannabis

A number of large investors have recently made changes to their positions in the business. Cobblestone Asset Management LLC increased its stake in Aurora Cannabis by 18.6% during the 4th quarter. Cobblestone Asset Management LLC now owns 25,450 shares of the company’s stock valued at $107,000 after purchasing an additional 4,000 shares in the last quarter. Silver Oak Securities Incorporated increased its position in shares of Aurora Cannabis by 15.9% in the 4th quarter. Silver Oak Securities Incorporated now owns 21,732 shares of the company’s stock valued at $93,000 after acquiring an additional 2,984 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Aurora Cannabis in the 3rd quarter worth $100,000. Northwestern Mutual Wealth Management Co. lifted its position in Aurora Cannabis by 1,808.9% during 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 period. Finally, Millennium Management LLC grew its stake in Aurora Cannabis by 563.7% during the 3rd quarter. Millennium Management LLC now owns 391,782 shares of the company’s stock valued at $2,339,000 after purchasing an additional 332,750 shares during the last quarter. 47.63% of the stock is owned by institutional investors and hedge funds.

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.