Aurora Cannabis (NASDAQ:ACB) Rating Lowered to “Strong Sell” at TD Securities

Aurora Cannabis (NASDAQ:ACB) was downgraded by investment analysts at TD Securities from a “strong-buy” rating to a “strong sell” rating in a report issued on Tuesday, Zacks reports.

Other research analysts have also recently issued reports about the stock. Zacks Research cut shares of Aurora Cannabis from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Weiss Ratings upgraded Aurora Cannabis from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 2nd. BMO Capital Markets raised Aurora Cannabis to a “hold” rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen upgraded Aurora Cannabis from a “sell” rating to a “hold” rating in a research note on Sunday, September 13th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Aurora Cannabis presently has an average rating of “Reduce”.

Aurora Cannabis Price Performance

Shares of ACB opened at $5.24 on Tuesday. The company’s 50-day moving average is $4.10 and its 200-day moving average is $3.56. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.36 and a quick ratio of 2.80. The firm has a market capitalization of $344.39 million, a PE ratio of -3.72 and a beta of 0.65. Aurora Cannabis has a fifty-two week low of $2.56 and a fifty-two week high of $6.36.

Aurora Cannabis (NASDAQ:ACB) last announced 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 negative net margin of 32.26% and a positive return on equity of 4.37%. The business had revenue of $47.62 million during the quarter, compared to the consensus estimate of $47.45 million. Equities analysts forecast that Aurora Cannabis will post -0.07 EPS for the current year.

Hedge Funds Weigh In On Aurora Cannabis

Hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC acquired a new position in Aurora Cannabis in the 2nd quarter valued at $36,000. State of Wyoming bought a new stake in shares of Aurora Cannabis during the 2nd quarter valued at $56,000. Baader Bank Aktiengesellschaft lifted its position in shares of Aurora Cannabis by 37.3% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 33,060 shares of the company’s stock valued at $108,000 after acquiring an additional 8,990 shares during the period. Finally, Tidal Investments LLC grew its holdings in shares of Aurora Cannabis by 1.2% during the 2nd quarter. Tidal Investments LLC now owns 1,264,494 shares of the company’s stock worth $3,528,000 after purchasing an additional 14,827 shares in the last quarter. Institutional investors own 47.63% of the company’s stock.

Aurora Cannabis Company Profile

Aurora Cannabis Inc is a Canadian cannabis company headquartered in Edmonton, Alberta. Founded in 2013, the company develops, produces, distributes and sells cannabis and cannabis-derived products for medical and adult-use markets. Its shares trade on the Toronto Stock Exchange and the Nasdaq under the symbol ACB.

Aurora’s product portfolio includes dried cannabis flower, pre-rolls, cannabis oils, softgels, vapes and other cannabis extracts. The company markets products through brands such as Aurora, San Rafael ’71, Daily Special and CanniMed, with offerings varying by market and applicable regulations.

The company serves Canada’s regulated adult-use and medical cannabis markets and has expanded its medical cannabis business internationally.