Aurora Cannabis (ACB) Stock Price Down 5.6%

Aurora Cannabis Inc (NYSE:ACB)’s share price fell 5.6% on Friday . The company traded as low as $8.90 and last traded at $9.03. 52,324,320 shares changed hands during trading, an increase of 63% from the average session volume of 32,095,471 shares. The stock had previously closed at $9.57.

A number of brokerages recently weighed in on ACB. TheStreet cut Aurora Cannabis from a “c” rating to a “d+” rating in a report on Monday, February 25th. ValuEngine raised Aurora Cannabis from a “hold” rating to a “buy” rating in a report on Tuesday. GMP Securities reissued a “hold” rating and set a $9.50 price objective on shares of Aurora Cannabis in a report on Tuesday, February 12th. Cowen began coverage on Aurora Cannabis in a report on Tuesday, March 5th. They set an “outperform” rating on the stock. Finally, Seaport Global Securities began coverage on Aurora Cannabis in a report on Thursday, February 21st. They set a “neutral” rating on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $9.50.

The company has a quick ratio of 2.50, a current ratio of 3.31 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $9.35 billion, a PE ratio of 75.25 and a beta of 2.90.

Aurora Cannabis (NYSE:ACB) last posted its quarterly earnings results on Monday, February 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. Aurora Cannabis had a positive return on equity of 3.95% and a negative net margin of 57.54%. The business had revenue of $41.00 million for the quarter. Equities analysts forecast that Aurora Cannabis Inc will post -0.17 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ETF Managers Group LLC bought a new position in Aurora Cannabis during the 4th quarter worth approximately $40,454,000. Norges Bank bought a new position in Aurora Cannabis during the 4th quarter worth approximately $30,915,000. TD Asset Management Inc. bought a new position in Aurora Cannabis during the 4th quarter worth approximately $16,657,000. JW Asset Management LLC bought a new position in Aurora Cannabis during the 4th quarter worth approximately $10,734,000. Finally, D. E. Shaw & Co. Inc. bought a new position in Aurora Cannabis during the 4th quarter worth approximately $10,504,000. Institutional investors and hedge funds own 8.05% of the company’s stock.

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Aurora Cannabis Company Profile (NYSE:ACB)

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.

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