Aurora Cannabis (TSE:ACB) Share Price Breaks Above Fifty Day Moving Average – Here’s Why

Aurora Cannabis Inc. (TSE:ACB)’s share price crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of C$5.65 and traded as high as C$5.85. Aurora Cannabis shares last traded at C$5.81, with a volume of 215,864 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on ACB. ATB Cormark Capital Markets raised their price objective on Aurora Cannabis from C$5.60 to C$7.00 and gave the stock a “tender” rating in a research note on Tuesday, October 6th. Canaccord Genuity Group reduced their price target on shares of Aurora Cannabis from C$6.50 to C$5.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Finally, BMO Capital Markets raised shares of Aurora Cannabis to a “hold” rating in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Aurora Cannabis currently has a consensus rating of “Moderate Buy” and a consensus target price of C$6.67.

Aurora Cannabis Price Performance

The firm has a 50-day simple moving average of C$5.65 and a two-hundred day simple moving average of C$4.94. The company has a market capitalization of C$359.97 million, a price-to-earnings ratio of -2.99 and a beta of 0.64. The company has a current ratio of 5.36, a quick ratio of 2.48 and a debt-to-equity ratio of 4.30.

Aurora Cannabis (TSE:ACB) last released its quarterly earnings data on Wednesday, August 5th. The company reported C($0.07) earnings per share for the quarter. The company had revenue of C$67.55 million for the quarter. Aurora Cannabis had a negative net margin of 9.53% and a negative return on equity of 5.21%. As a group, analysts predict that Aurora Cannabis Inc. will post -0.22 earnings per share for the current fiscal year.

Aurora Cannabis Company Profile

Aurora is Opening the World to Cannabis ¿, serving both the medical and consumer markets across Canada, Europe, Australia and New Zealand. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis, dedicated to helping people improve their lives. The Company’s adult-use brand portfolio includes Drift , San Raf , Daily Special ¿, Tasty’s ¿, Being and Greybeard . Medical cannabis brands include MedReleaf , CanniMed , Aurora and Whistler Medical Marijuana Corporation , as well as international brands, Pedanios , IndiMed ¿ and CraftPlant ¿.