Shares of Aurora Cannabis Inc (NYSE:ACB) shot up 12.8% during trading on Wednesday . The company traded as high as $2.73 and last traded at $2.64, 78,335,829 shares traded hands during mid-day trading. An increase of 289% from the average session volume of 20,139,729 shares. The stock had previously closed at $2.34.
A number of research analysts have weighed in on the stock. Canaccord Genuity set a $13.50 target price on shares of Aurora Cannabis and gave the stock a “buy” rating in a research note on Friday, September 13th. ValuEngine upgraded Aurora Cannabis from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Piper Jaffray Companies cut their target price on Aurora Cannabis from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Zacks Investment Research raised shares of Aurora Cannabis from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Pi Financial set a $7.00 price objective on shares of Aurora Cannabis and gave the company a “buy” rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $7.27.
The firm has a market cap of $2.76 billion, a price-to-earnings ratio of -12.00 and a beta of 2.30. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.83 and a current ratio of 1.27. The company has a 50 day moving average price of $3.65 and a 200 day moving average price of $6.08.
Hedge funds have recently made changes to their positions in the business. First Allied Advisory Services Inc. raised its stake in shares of Aurora Cannabis by 17.1% in the 3rd quarter. First Allied Advisory Services Inc. now owns 41,562 shares of the company’s stock valued at $181,000 after acquiring an additional 6,058 shares during the period. Cetera Advisors LLC lifted its holdings in shares of Aurora Cannabis by 5.4% in the 3rd quarter. Cetera Advisors LLC now owns 76,092 shares of the company’s stock worth $336,000 after acquiring an additional 3,899 shares during the last quarter. Cetera Advisor Networks LLC boosted its position in shares of Aurora Cannabis by 13.8% during the 3rd quarter. Cetera Advisor Networks LLC now owns 65,157 shares of the company’s stock worth $281,000 after purchasing an additional 7,890 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Aurora Cannabis by 613.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 20,678 shares of the company’s stock worth $91,000 after purchasing an additional 17,778 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Aurora Cannabis in the 3rd quarter valued at approximately $439,000. 9.05% of the stock is owned by institutional investors.
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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