Zacks Investment Research Lowers Aurora Cannabis (ACB) to Sell

Aurora Cannabis (NYSE:ACB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Aurora Cannabis Inc is a Canada-based company engaged in the production and distribution of medical cannabis. The Company is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis and hemp production, derivatives, home cultivation, wholesale and retail distribution. The Company’s purpose-built facilities, which integrate technologies across all processes, are defined by automation and customization. The Company has a funded capacity of more than 500,000 kilograms per year, as well as sales and operations in 24 countries across 5 continents. “

Several other brokerages have also recently issued reports on ACB. Cowen started coverage on Aurora Cannabis in a research note on Tuesday, March 5th. They issued an “outperform” rating for the company. Seaport Global Securities started coverage on Aurora Cannabis in a research note on Thursday, February 21st. They issued a “neutral” rating for the company. ValuEngine upgraded Aurora Cannabis from a “hold” rating to a “buy” rating in a research note on Tuesday, March 19th. TheStreet cut Aurora Cannabis from a “c” rating to a “d+” rating in a research note on Monday, February 25th. Finally, Jefferies Financial Group started coverage on Aurora Cannabis in a research note on Monday, February 25th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $9.86.

Shares of ACB stock traded up $0.36 during trading on Tuesday, hitting $8.38. The company had a trading volume of 17,250,660 shares, compared to its average volume of 27,290,064. The company has a current ratio of 3.31, a quick ratio of 2.50 and a debt-to-equity ratio of 0.08. The stock has a market cap of $8.47 billion, a P/E ratio of 69.83 and a beta of 2.82. Aurora Cannabis has a one year low of $4.05 and a one year high of $12.52.

Aurora Cannabis (NYSE:ACB) last issued its quarterly earnings results on Monday, February 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. The business had revenue of $41.00 million during the quarter. Aurora Cannabis had a positive return on equity of 3.95% and a negative net margin of 57.54%. Analysts forecast that Aurora Cannabis will post -0.18 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Actinver Wealth Management Inc. raised its position in Aurora Cannabis by 6.4% during the first quarter. Actinver Wealth Management Inc. now owns 20,090 shares of the company’s stock valued at $182,000 after purchasing an additional 1,215 shares in the last quarter. Glassman Wealth Services raised its position in Aurora Cannabis by 8.2% during the first quarter. Glassman Wealth Services now owns 17,587 shares of the company’s stock valued at $159,000 after purchasing an additional 1,326 shares in the last quarter. Moloney Securities Asset Management LLC raised its position in Aurora Cannabis by 13.9% during the first quarter. Moloney Securities Asset Management LLC now owns 12,320 shares of the company’s stock valued at $112,000 after purchasing an additional 1,500 shares in the last quarter. US Bancorp DE raised its position in Aurora Cannabis by 30.8% during the first quarter. US Bancorp DE now owns 6,385 shares of the company’s stock valued at $58,000 after purchasing an additional 1,505 shares in the last quarter. Finally, Focused Wealth Management Inc raised its position in Aurora Cannabis by 33.6% during the first quarter. Focused Wealth Management Inc now owns 6,574 shares of the company’s stock valued at $60,000 after purchasing an additional 1,654 shares in the last quarter. Institutional investors and hedge funds own 9.04% of the company’s stock.

About Aurora Cannabis

Aurora Cannabis Inc produces and distributes medical cannabis products. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain, from facility engineering and design to cannabis breeding, genetics research, production, derivatives, high value-add product development, home cultivation, wholesale, and retail distribution.

See Also: What are the FAANG Stocks?

Get a free copy of the Zacks research report on Aurora Cannabis (ACB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Aurora Cannabis (NYSE:ACB)

Receive News & Ratings for Aurora Cannabis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aurora Cannabis and related companies with MarketBeat.com's FREE daily email newsletter.