Aurora Cannabis (TSE:ACB) Trading Up 20.8% – Time to Buy?

Aurora Cannabis Inc. (TSE:ACB)’s share price shot up 20.8% during trading on Tuesday . The company traded as high as C$4.91 and last traded at C$4.87. Approximately 1,683,109 shares traded hands during mid-day trading, an increase of 311% from the average daily volume of 409,698 shares. The stock had previously closed at C$4.03.

Wall Street Analysts Forecast Growth

ACB has been the topic of a number of recent analyst reports. Canaccord Genuity Group lowered their price target on shares of Aurora Cannabis from C$6.50 to C$5.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. BMO Capital Markets upgraded shares of Aurora Cannabis to a “hold” rating in a research note on Wednesday, August 5th. Finally, TD decreased their price objective on shares of Aurora Cannabis from C$10.00 to C$8.00 and set a “buy” rating on the stock in a report on Friday, June 12th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$7.17.

Aurora Cannabis Stock Up 20.8%

The firm has a 50 day moving average of C$4.06 and a two-hundred day moving average of C$4.61. The stock has a market capitalization of C$301.66 million, a PE ratio of -2.51 and a beta of 0.25. The company has a current ratio of 5.36, a quick ratio of 2.48 and a debt-to-equity ratio of 4.30.

Aurora Cannabis (TSE:ACB) last posted its earnings results on Wednesday, August 5th. The company reported C($0.07) EPS for the quarter. The firm had revenue of C$67.55 million for the quarter. Aurora Cannabis had a negative return on equity of 5.21% and a negative net margin of 9.53%. Equities research analysts anticipate that Aurora Cannabis Inc. will post -0.22 earnings per share for the current year.

Aurora Cannabis Company Profile

Aurora Cannabis, headquartered in Edmonton, Canada, cultivates and sells medicinal and recreational cannabis through a portfolio of brands that includes Aurora, CanniMed, Daily Special, MedReleaf, and San Rafael ’71. Although the company primarily operates in Canada, it has expanded internationally through medical cannabis exporting agreements or cultivation facilities in more than 20 countries.