Aurora Cannabis (NYSE:ACB) Now Covered by Piper Jaffray Companies

Piper Jaffray Companies started coverage on shares of Aurora Cannabis (NYSE:ACB) in a research report sent to investors on Monday, Briefing.com Automated Import reports. The firm issued a neutral rating and a $7.00 price target on the stock. Piper Jaffray Companies also issued estimates for Aurora Cannabis’ Q4 2019 earnings at ($0.02) EPS, FY2019 earnings at ($0.26) EPS, Q1 2020 earnings at ($0.02) EPS, Q2 2020 earnings at ($0.02) EPS, Q3 2020 earnings at ($0.01) EPS, Q4 2020 earnings at $0.00 EPS, FY2020 earnings at $0.05 EPS, Q1 2021 earnings at $0.01 EPS, Q2 2021 earnings at $0.01 EPS, Q3 2021 earnings at $0.02 EPS, Q4 2021 earnings at $0.02 EPS and FY2021 earnings at $0.05 EPS.

A number of other equities analysts have also recently issued reports on ACB. Desjardins began coverage on shares of Aurora Cannabis in a research report on Thursday, April 25th. They issued a buy rating and a $9.07 price objective on the stock. ValuEngine cut shares of Aurora Cannabis from a buy rating to a hold rating in a research report on Friday, August 2nd. Stifel Nicolaus began coverage on shares of Aurora Cannabis in a research report on Wednesday, June 5th. They issued a hold rating on the stock. Zacks Investment Research upgraded shares of Aurora Cannabis from a hold rating to a buy rating and set a $7.50 price objective on the stock in a research report on Thursday, August 8th. Finally, Bank of America cut shares of Aurora Cannabis from a buy rating to a neutral rating and set a $7.30 price objective on the stock. in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $8.23.

Shares of NYSE:ACB opened at $5.67 on Monday. The stock has a market cap of $6.78 billion, a PE ratio of 47.25 and a beta of 2.44. The company’s fifty day moving average is $6.87 and its 200 day moving average is $7.89. Aurora Cannabis has a 52 week low of $4.58 and a 52 week high of $12.52. The company has a quick ratio of 1.98, a current ratio of 2.37 and a debt-to-equity ratio of 0.10.

Aurora Cannabis (NYSE:ACB) last issued its earnings results on Tuesday, May 14th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). The business had revenue of $49.00 million during the quarter, compared to analysts’ expectations of $50.92 million. Aurora Cannabis had a positive return on equity of 1.24% and a negative net margin of 122.65%. Sell-side analysts anticipate that Aurora Cannabis will post -0.23 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in ACB. Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Aurora Cannabis during the first quarter valued at about $25,000. Carroll Financial Associates Inc. purchased a new position in shares of Aurora Cannabis during the first quarter valued at about $27,000. Mackey Komara & Dankovich LLC purchased a new position in shares of Aurora Cannabis during the second quarter valued at about $27,000. Financial Management Professionals Inc. increased its position in shares of Aurora Cannabis by 586.3% during the first quarter. Financial Management Professionals Inc. now owns 3,061 shares of the company’s stock valued at $28,000 after buying an additional 2,615 shares during the period. Finally, Executive Wealth Management LLC increased its position in shares of Aurora Cannabis by 102.1% during the second quarter. Executive Wealth Management LLC now owns 3,900 shares of the company’s stock valued at $30,000 after buying an additional 1,970 shares during the period. Institutional investors own 9.10% of the company’s stock.

Aurora Cannabis Company Profile

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.

Further Reading: Golden Cross

Analyst Recommendations for Aurora Cannabis (NYSE:ACB)

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