Aurora Cannabis (NASDAQ:ACB) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Aurora Cannabis (NASDAQ:ACB) from a sell rating to a hold rating in a research report sent to investors on Sunday morning,Wall Street Zen reports.

ACB has been the subject of several other reports. Zacks Research raised shares of Aurora Cannabis from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Aurora Cannabis from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 26th. Finally, BMO Capital Markets raised shares of Aurora Cannabis to a “hold” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Aurora Cannabis Price Performance

ACB opened at $3.74 on Friday. Aurora Cannabis has a fifty-two week low of $2.56 and a fifty-two week high of $6.66. The business has a 50-day moving average of $3.28 and a 200-day moving average of $3.33. 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 company has a market capitalization of $242.50 million, a PE ratio of -2.65 and a beta of 0.63.

Aurora Cannabis (NASDAQ:ACB) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $47.45 million. Equities research analysts forecast that Aurora Cannabis will post -0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Aurora Cannabis

Institutional investors have recently modified their holdings of the company. Tidal Investments LLC boosted its holdings in shares of Aurora Cannabis by 6.0% during the 2nd quarter. Tidal Investments LLC now owns 1,509,483 shares of the company’s stock worth $6,400,000 after buying an additional 86,045 shares during the period. Two Sigma Investments LP raised its holdings in Aurora Cannabis by 7,412.0% in the 3rd quarter. Two Sigma Investments LP now owns 1,149,869 shares of the company’s stock worth $6,853,000 after acquiring an additional 1,134,562 shares during the period. Goldman Sachs Group Inc. raised its holdings in Aurora Cannabis by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 743,903 shares of the company’s stock worth $3,266,000 after acquiring an additional 29,099 shares during the period. Millennium Management LLC lifted its position in Aurora Cannabis by 563.7% during the 3rd quarter. Millennium Management LLC now owns 391,782 shares of the company’s stock worth $2,339,000 after acquiring an additional 332,750 shares during the last quarter. Finally, UBS Group AG lifted its position in Aurora Cannabis by 136.8% during the 3rd quarter. UBS Group AG now owns 184,190 shares of the company’s stock worth $1,098,000 after acquiring an additional 106,391 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.