Aurora Cannabis (NASDAQ:ACB) Shares Up 1.1% – Here’s What Happened

Shares of Aurora Cannabis Inc. (NASDAQ:ACB) shot up 1.1% during trading on Thursday . The company traded as high as $2.70 and last traded at $2.69. 899,314 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 1,123,534 shares. The stock had previously closed at $2.66.

Analyst Upgrades and Downgrades

ACB has been the subject of several recent research reports. Wall Street Zen upgraded shares of Aurora Cannabis from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings raised shares of Aurora Cannabis from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Aurora Cannabis presently has an average rating of “Hold”.

Aurora Cannabis Stock Performance

The company has a quick ratio of 3.32, a current ratio of 5.94 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $3.04 and a two-hundred day simple moving average of $3.45. The stock has a market capitalization of $165.00 million, a P/E ratio of -1.72 and a beta of 0.57.

Aurora Cannabis (NASDAQ:ACB) last announced its quarterly earnings data on Thursday, June 11th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.14. Aurora Cannabis had a positive return on equity of 0.10% and a negative net margin of 33.57%.The company had revenue of $60.98 million for the quarter, compared to analysts’ expectations of $54.42 million. On average, equities analysts forecast that Aurora Cannabis Inc. will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Aurora Cannabis

Institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its stake in Aurora Cannabis by 49.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 10,813 shares of the company’s stock valued at $46,000 after acquiring an additional 3,582 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Aurora Cannabis during the 4th quarter worth about $58,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of 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 valued at $63,000 after purchasing an additional 9,967 shares during the period. Engineers Gate Manager LP acquired a new stake in Aurora Cannabis in the 2nd quarter valued at about $68,000. Finally, Squarepoint Ops LLC acquired a new stake in Aurora Cannabis in the 4th quarter valued at about $69,000. 47.63% of the stock is currently 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.