Aurora Cannabis (NASDAQ:ACB) Upgraded to Hold at BMO Capital Markets

Aurora Cannabis (NASDAQ:ACB) was upgraded by investment analysts at BMO Capital Markets to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other research firms have also recently commented on ACB. Wall Street Zen upgraded Aurora Cannabis from a “strong sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised Aurora Cannabis from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold”.

Aurora Cannabis Stock Up 0.3%

Shares of Aurora Cannabis stock opened at $2.99 on Wednesday. The company has a market cap of $185.20 million, a price-to-earnings ratio of -2.12 and a beta of 0.58. The company’s 50 day moving average is $2.90 and its 200 day moving average is $3.35. Aurora Cannabis has a twelve month low of $2.56 and a twelve month high of $6.66. The company has a quick ratio of 3.32, a current ratio of 5.36 and a debt-to-equity ratio of 0.03.

Aurora Cannabis (NASDAQ:ACB) last issued its earnings results on Thursday, June 11th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.14. Aurora Cannabis had a negative net margin of 32.26% and a positive return on equity of 4.37%. The company had revenue of $60.98 million for the quarter, compared to analysts’ expectations of $54.42 million. Research analysts anticipate that Aurora Cannabis will post -0.3 EPS for the current year.

Institutional Investors Weigh In On Aurora Cannabis

Institutional investors and hedge funds have recently bought and sold shares of the stock. State of Wyoming purchased a new stake in shares of Aurora Cannabis in the second quarter valued at about $56,000. Baader Bank Aktiengesellschaft grew its holdings 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 worth $108,000 after buying an additional 8,990 shares during the last quarter. Leonteq Securities AG increased its position in Aurora Cannabis by 24.7% in the 1st quarter. Leonteq Securities AG now owns 42,839 shares of the company’s stock valued at $140,000 after acquiring an additional 8,472 shares during the period. Silver Oak Securities Incorporated increased its position in 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 acquiring an additional 15,491 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Aurora Cannabis during the 4th quarter valued at approximately $177,000. 47.63% of the stock is owned by hedge funds and other institutional investors.

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.