Aurora Cannabis (NASDAQ:ACB) Trading Down 0.5% – What’s Next?

Aurora Cannabis Inc. (NASDAQ:ACB) shares fell 0.5% during trading on Wednesday . The stock traded as low as $4.01 and last traded at $4.03. Approximately 1,470,064 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 1,930,029 shares. The stock had previously closed at $4.05.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wall Street Zen raised Aurora Cannabis from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings raised Aurora Cannabis from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 26th. Zacks Research upgraded Aurora Cannabis from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Finally, BMO Capital Markets raised Aurora Cannabis to a “hold” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Aurora Cannabis Price Performance

The firm has a market cap of $252.23 million, a P/E ratio of -2.76 and a beta of 0.63. The business’s fifty day simple moving average is $3.16 and its 200-day simple moving average is $3.33. 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 (NASDAQ:ACB) last issued its earnings results on Wednesday, August 5th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.17. Aurora Cannabis had a positive return on equity of 4.37% and a negative net margin of 32.26%.The business had revenue of $47.62 million during the quarter, compared to the consensus estimate of $47.45 million. As a group, analysts forecast that Aurora Cannabis Inc. will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Aurora Cannabis

Hedge funds have recently added to or reduced their stakes in the company. Two Sigma Securities LLC purchased a new stake in Aurora Cannabis in the second quarter worth approximately $36,000. SBI Securities Co. Ltd. boosted its holdings in Aurora Cannabis by 49.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 10,813 shares of the company’s stock valued at $46,000 after acquiring an additional 3,582 shares during the period. State of Wyoming purchased a new stake in Aurora Cannabis during the 2nd quarter valued at about $56,000. Headlands Technologies LLC bought a new position in Aurora Cannabis during the 4th quarter worth approximately $58,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in 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 acquiring an additional 9,967 shares during the last quarter. 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.