Aurora Cannabis (NASDAQ:ACB) Rating Lowered to Sell at Wall Street Zen

Aurora Cannabis (NASDAQ:ACB) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other analysts also recently weighed in on ACB. BMO Capital Markets upgraded Aurora Cannabis to a “hold” rating in a research report on Wednesday, August 5th. Zacks Research upgraded shares of Aurora Cannabis from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Finally, Weiss Ratings raised shares of Aurora Cannabis from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Aurora Cannabis presently has a consensus rating of “Moderate Buy”.

Aurora Cannabis Stock Performance

ACB opened at $3.95 on Friday. The stock has a market cap of $256.12 million, a price-to-earnings ratio of -2.80 and a beta of 0.63. The stock’s 50 day moving average price is $3.18 and its 200-day moving average price is $3.33. Aurora Cannabis has a one year low of $2.56 and a one year high of $6.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.80 and a current ratio of 5.36.

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

Hedge Funds Weigh In On Aurora Cannabis

Institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp raised its stake in Aurora Cannabis by 9,615.6% in the first quarter. Jones Financial Companies Lllp now owns 52,270 shares of the company’s stock worth $229,000 after buying an additional 51,732 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Aurora Cannabis by 4.1% during 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 in the last quarter. Engineers Gate Manager LP bought a new stake in Aurora Cannabis during the 2nd quarter valued at $68,000. Tidal Investments LLC increased its holdings in shares of Aurora Cannabis by 6.0% in the 2nd quarter. Tidal Investments LLC now owns 1,509,483 shares of the company’s stock valued at $6,400,000 after acquiring an additional 86,045 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Aurora Cannabis in the 2nd quarter valued at $66,000. 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.