Aurora Cannabis (NASDAQ:ACB) Announces Quarterly Earnings Results

Aurora Cannabis (NASDAQ:ACB) announced its earnings results on Wednesday. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06, Zacks reports. Aurora Cannabis had a negative return on equity of 1.49% and a negative net margin of 5.66%.

Aurora Cannabis Trading Down 1.8%

ACB traded down $0.08 during trading on Wednesday, reaching $4.46. The company had a trading volume of 1,672,313 shares, compared to its average volume of 1,837,994. The stock has a market cap of $250.74 million, a P/E ratio of -23.47 and a beta of 1.71. The business has a 50 day simple moving average of $5.25 and a 200-day simple moving average of $5.01. Aurora Cannabis has a 52 week low of $3.42 and a 52 week high of $6.91. The company has a quick ratio of 1.51, a current ratio of 2.97 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On Aurora Cannabis

Several institutional investors have recently made changes to their positions in ACB. Tidal Investments LLC boosted its position in Aurora Cannabis by 6.0% during the second quarter. Tidal Investments LLC now owns 1,509,483 shares of the company’s stock valued at $6,400,000 after purchasing an additional 86,045 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Aurora Cannabis by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 743,903 shares of the company’s stock worth $3,266,000 after purchasing an additional 29,099 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Aurora Cannabis by 9,615.6% during the first quarter. Jones Financial Companies Lllp now owns 52,270 shares of the company’s stock worth $229,000 after purchasing an additional 51,732 shares during the period. State of Wyoming lifted its holdings in shares of Aurora Cannabis by 10.5% during the second quarter. State of Wyoming now owns 23,722 shares of the company’s stock worth $101,000 after purchasing an additional 2,246 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in shares of Aurora Cannabis during the second quarter worth about $68,000. Hedge funds and other institutional investors own 47.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wall Street Zen lowered Aurora Cannabis from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Zacks Research upgraded Aurora Cannabis from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aurora Cannabis in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Aurora Cannabis presently has an average rating of “Moderate Buy”.

About Aurora Cannabis

Aurora Cannabis Inc, together with its subsidiaries, produces, distributes, and sells cannabis and cannabis-derivative products in Canada and internationally. It operates through three segments: Canadian Cannabis, European Cannabis, and Plant Propagation. The company produces, distributes, and sells medical and consumer cannabis products in Canada.