Aurora Cannabis (NASDAQ:ACB) Trading 1.5% Higher – Should You Buy?

Shares of Aurora Cannabis Inc. (NASDAQ:ACB) shot up 1.5% on Monday . The stock traded as high as $3.37 and last traded at $3.31. 564,092 shares changed hands during mid-day trading, a decline of 1% from the average session volume of 571,621 shares. The stock had previously closed at $3.26.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Canaccord Genuity Group initiated coverage on Aurora Cannabis in a research note on Tuesday, January 27th. They set a “buy” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aurora Cannabis in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold”.

Aurora Cannabis Stock Performance

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 company has a market capitalization of $187.64 million, a PE ratio of -3.06 and a beta of 0.39. The business has a 50 day simple moving average of $3.77 and a 200 day simple moving average of $4.48.

Aurora Cannabis (NASDAQ:ACB) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.09 earnings per share 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 business had revenue of $68.59 million for the quarter, compared to analysts’ expectations of $92.39 million. Equities research analysts predict that Aurora Cannabis Inc. will post 0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Aurora Cannabis by 1,808.9% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 10,518 shares of the company’s stock worth $63,000 after buying an additional 9,967 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Aurora Cannabis by 49.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 10,813 shares of the company’s stock valued at $46,000 after buying an additional 3,582 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new position in shares of Aurora Cannabis in the 3rd quarter valued at $81,000. Headlands Technologies LLC acquired a new position in shares of Aurora Cannabis in the 4th quarter valued at $58,000. Finally, Engineers Gate Manager LP purchased a new position in Aurora Cannabis in the 2nd quarter worth $68,000. Institutional investors and hedge funds own 47.63% of the company’s stock.

Aurora Cannabis Company Profile

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.