Aurora Cannabis (NASDAQ:ACB) Stock Rating Upgraded by BMO Capital Markets

Aurora Cannabis (NASDAQ:ACB) was upgraded by analysts at BMO Capital Markets to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other research analysts have also recently commented on the company. Wall Street Zen raised Aurora Cannabis from a “strong sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings raised Aurora Cannabis from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Aurora Cannabis Price Performance

ACB stock opened at $2.99 on Wednesday. Aurora Cannabis has a 12 month low of $2.56 and a 12 month high of $6.66. The company has a current ratio of 5.36, a quick ratio of 3.32 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $2.90 and a 200 day moving average price of $3.35. The stock has a market cap of $185.20 million, a PE ratio of -2.12 and a beta of 0.58.

Aurora Cannabis (NASDAQ:ACB) last posted its quarterly earnings data on Thursday, June 11th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.14. The company had revenue of $60.98 million for the quarter, compared to analyst estimates of $54.42 million. Aurora Cannabis had a negative net margin of 32.26% and a positive return on equity of 4.37%. Equities research analysts anticipate that Aurora Cannabis will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On Aurora Cannabis

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Investments LP raised its position in Aurora Cannabis by 7,412.0% during the 3rd quarter. Two Sigma Investments LP now owns 1,149,869 shares of the company’s stock valued at $6,853,000 after purchasing an additional 1,134,562 shares in the last quarter. Millennium Management LLC grew its position in shares of 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 buying an additional 332,750 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Aurora Cannabis during the 4th quarter worth $590,000. UBS Group AG increased its stake in shares of Aurora Cannabis by 136.8% during the third quarter. UBS Group AG now owns 184,190 shares of the company’s stock valued at $1,098,000 after buying an additional 106,391 shares during the period. Finally, Tidal Investments LLC raised its holdings in shares of Aurora Cannabis by 6.0% in the second quarter. Tidal Investments LLC now owns 1,509,483 shares of the company’s stock valued at $6,400,000 after acquiring an additional 86,045 shares in 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.