Aurora Cannabis (NASDAQ:ACB) Coverage Initiated by Analysts at Canaccord Genuity Group

Equities research analysts at Canaccord Genuity Group initiated coverage on shares of Aurora Cannabis (NASDAQ:ACB) in a research note issued to investors on Tuesday. The firm set a “buy” rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aurora Cannabis in a research note on Wednesday, January 21st. Zacks Research raised shares of Aurora Cannabis from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Aurora Cannabis currently has an average rating of “Moderate Buy”.

Aurora Cannabis Stock Performance

Shares of Aurora Cannabis stock traded up $0.05 during trading on Tuesday, hitting $4.37. 77,816 shares of the company’s stock were exchanged, 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 company has a debt-to-equity ratio of 0.06, a quick ratio of 1.63 and a current ratio of 3.41. The stock has a market capitalization of $247.41 million, a price-to-earnings ratio of -6.30 and a beta of 0.31. The business has a 50-day simple moving average of $4.50 and a 200-day simple moving average of $4.82.

Aurora Cannabis (NASDAQ:ACB) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.06. The company had revenue of $64.88 million for the quarter, compared to the consensus estimate of $86.45 million. Aurora Cannabis had a negative return on equity of 0.58% and a negative net margin of 15.96%. On average, research analysts forecast that Aurora Cannabis will post 0.46 EPS for the current year.

Institutional Investors Weigh In On Aurora Cannabis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACB. Jones Financial Companies Lllp raised its holdings in shares of Aurora Cannabis by 9,615.6% in the 1st quarter. Jones Financial Companies Lllp now owns 52,270 shares of the company’s stock valued at $229,000 after buying an additional 51,732 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Aurora Cannabis by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 743,903 shares of the company’s stock valued at $3,266,000 after acquiring an additional 29,099 shares during the last quarter. TD Asset Management Inc raised its holdings in Aurora Cannabis by 14.0% during the second quarter. TD Asset Management Inc now owns 69,463 shares of the company’s stock worth $293,000 after purchasing an additional 8,514 shares in the last quarter. AdvisorShares Investments LLC acquired a new position in Aurora Cannabis in the second quarter valued at $214,000. Finally, Engineers Gate Manager LP acquired a new position in Aurora Cannabis during the second quarter worth approximately $68,000. Hedge funds and other institutional investors 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.