Aurora Cannabis (NASDAQ:ACB) Raised to “Hold” at Wall Street Zen

Aurora Cannabis (NASDAQ:ACB) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a report issued on Saturday.

Separately, 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. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Aurora Cannabis Price Performance

Shares of Aurora Cannabis stock opened at $2.99 on Friday. The firm has a market cap of $185.20 million, a PE ratio of -2.12 and a beta of 0.58. The stock has a 50 day moving average of $2.90 and a 200 day moving average of $3.34. The company has a current ratio of 5.36, a quick ratio of 2.80 and a debt-to-equity ratio of 0.03. Aurora Cannabis has a 12 month low of $2.56 and a 12 month high of $6.66.

Aurora Cannabis (NASDAQ:ACB) last released its quarterly earnings data on Thursday, June 11th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.14. Aurora Cannabis had a positive return on equity of 4.37% and a negative net margin of 32.26%.The business had revenue of $60.98 million for the quarter, compared to the consensus estimate of $54.42 million. On average, research analysts expect that Aurora Cannabis will post -0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Aurora Cannabis

A number of institutional investors and hedge funds have recently modified their holdings of ACB. Jones Financial Companies Lllp lifted its position 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 during the last quarter. Goldman Sachs Group Inc. increased its position in Aurora Cannabis by 4.1% during the first 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 during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Aurora Cannabis in the second quarter valued at $68,000. Tidal Investments LLC lifted 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 worth $6,400,000 after acquiring an additional 86,045 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Aurora Cannabis in the 2nd quarter worth about $66,000. Hedge funds and other institutional investors own 47.63% of the company’s stock.

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.