Zacks Research Downgrades Aurora Cannabis (NASDAQ:ACB) to Hold

Aurora Cannabis (NASDAQ:ACB) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other analysts also recently commented on the stock. Weiss Ratings upgraded shares of Aurora Cannabis from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. Wall Street Zen upgraded Aurora Cannabis from a “sell” rating to a “hold” rating in a report on Sunday, September 13th. Finally, BMO Capital Markets raised Aurora Cannabis to a “hold” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Aurora Cannabis currently has an average rating of “Hold”.

Aurora Cannabis Price Performance

Aurora Cannabis stock opened at $4.59 on Monday. The firm has a market capitalization of $301.65 million, a P/E ratio of -3.26 and a beta of 0.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.36 and a quick ratio of 2.80. The business has a fifty day moving average price of $3.75 and a 200-day moving average price of $3.39. Aurora Cannabis has a one year low of $2.56 and a one year high of $6.66.

Aurora Cannabis (NASDAQ:ACB) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.17. Aurora Cannabis had a positive return on equity of 4.37% and a negative net margin of 32.26%.The firm had revenue of $47.62 million during the quarter, compared to the consensus estimate of $47.45 million. As a group, equities research analysts forecast that Aurora Cannabis will post -0.07 EPS for the current year.

Hedge Funds Weigh In On Aurora Cannabis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACB. Tidal Investments LLC raised its stake in Aurora Cannabis by 1.2% in the 2nd quarter. Tidal Investments LLC now owns 1,264,494 shares of the company’s stock valued at $3,528,000 after purchasing an additional 14,827 shares during the last quarter. Leonteq Securities AG raised its position in shares of Aurora Cannabis by 24.7% during the 1st quarter. Leonteq Securities AG now owns 42,839 shares of the company’s stock valued at $140,000 after buying an additional 8,472 shares during the period. Silver Oak Securities Incorporated lifted its stake in shares of Aurora Cannabis by 71.3% in the 1st quarter. Silver Oak Securities Incorporated now owns 37,223 shares of the company’s stock valued at $122,000 after purchasing an additional 15,491 shares during the last quarter. Baader Bank Aktiengesellschaft increased its position in shares of Aurora Cannabis by 37.3% during the first quarter. Baader Bank Aktiengesellschaft now owns 33,060 shares of the company’s stock valued at $108,000 after acquiring an additional 8,990 shares during the last quarter. Finally, State of Wyoming acquired a new stake in Aurora Cannabis in the 2nd quarter valued at approximately $56,000. 47.63% of the stock is owned by hedge funds and other institutional investors.

Aurora Cannabis Company Profile

Aurora Cannabis Inc is a Canadian cannabis company focused primarily on the production, distribution and sale of medical cannabis. The company offers cannabis products such as dried flower, pre-rolls, oils, softgels, capsules and other formulations through its medical and consumer brands.

Founded in 2013 and headquartered in Edmonton, Alberta, Aurora serves adult-use and medical markets in Canada and supplies medical cannabis to selected international markets. Its international operations and partnerships have included markets in Europe, Australia and other regions where cannabis is permitted for medical use.

Aurora sells products under brands including Aurora, CanniMed, MedReleaf and San Rafael ’71.