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

BMO Capital Markets upgraded shares of Aurora Cannabis (NASDAQ:ACB) to a hold rating in a report released on Wednesday,Zacks.com reports.

Several other research firms have also recently issued reports on ACB. Weiss Ratings upgraded shares of Aurora Cannabis from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, June 16th. Wall Street Zen raised shares of Aurora Cannabis from a “strong sell” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Aurora Cannabis currently has a consensus rating of “Hold”.

Aurora Cannabis Stock Up 0.3%

Shares of NASDAQ:ACB opened at $2.99 on Wednesday. Aurora Cannabis has a 52-week low of $2.56 and a 52-week high of $6.66. The stock has a market cap of $185.20 million, a P/E ratio of -2.12 and a beta of 0.58. The business has a fifty day moving average of $2.90 and a two-hundred day moving average of $3.35. 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 posted its quarterly earnings results on Thursday, June 11th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.14. The business had revenue of $60.98 million for the quarter, compared to analyst estimates of $54.42 million. Aurora Cannabis had a positive return on equity of 4.37% and a negative net margin of 32.26%. On average, research analysts expect that Aurora Cannabis will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On Aurora Cannabis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACB. Barclays PLC lifted its stake in shares of Aurora Cannabis by 93.5% in the 4th quarter. Barclays PLC now owns 33,709 shares of the company’s stock valued at $142,000 after purchasing an additional 16,292 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Aurora Cannabis during the 4th quarter worth about $58,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Aurora Cannabis during the 3rd quarter worth about $100,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Aurora Cannabis by 1,808.9% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 10,518 shares of the company’s stock worth $63,000 after purchasing an additional 9,967 shares during the last quarter. Finally, State of Wyoming raised its holdings in Aurora Cannabis by 10.5% in the 2nd quarter. State of Wyoming now owns 23,722 shares of the company’s stock valued at $101,000 after buying an additional 2,246 shares during the period. Institutional investors and hedge funds 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.