Aurora Cannabis Inc. (NASDAQ:ACB) Stock Rated “Reduce” by Wall Street Brokerages

Aurora Cannabis Inc. (NASDAQ:ACB) has been assigned an average recommendation of “Reduce” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a buy recommendation to the company.

A number of equities analysts have recently commented on ACB shares. Weiss Ratings raised Aurora Cannabis from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 2nd. TD Securities lowered Aurora Cannabis from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday, November 3rd. BMO Capital Markets raised Aurora Cannabis to a “hold” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded Aurora Cannabis from a “sell” rating to a “hold” rating in a research note on Sunday, September 13th. Finally, Zacks Research downgraded Aurora Cannabis from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th.

Hedge Funds Weigh In On Aurora Cannabis

Large investors have recently modified their holdings of the company. JW Asset Management LLC purchased a new position in Aurora Cannabis during the third quarter valued at approximately $156,000. State of Wyoming grew its position in shares of Aurora Cannabis by 26.2% during the 3rd quarter. State of Wyoming now owns 25,303 shares of the company’s stock valued at $99,000 after purchasing an additional 5,250 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Aurora Cannabis by 1.2% in the second quarter. Tidal Investments LLC now owns 1,264,494 shares of the company’s stock worth $3,528,000 after purchasing an additional 14,827 shares during the period. Two Sigma Securities LLC purchased a new stake in shares of Aurora Cannabis in the second quarter worth $36,000. Finally, Baader Bank Aktiengesellschaft raised its position in shares of Aurora Cannabis by 37.3% in the first quarter. Baader Bank Aktiengesellschaft now owns 33,060 shares of the company’s stock worth $108,000 after buying an additional 8,990 shares in the last quarter. 47.63% of the stock is currently owned by institutional investors.

Aurora Cannabis Stock Down 1.5%

ACB stock opened at $5.16 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.80 and a current ratio of 5.36. The company has a market capitalization of $339.12 million, a price-to-earnings ratio of -5.27 and a beta of 0.65. Aurora Cannabis has a fifty-two week low of $2.56 and a fifty-two week high of $6.36. The stock has a fifty day moving average of $4.17 and a 200-day moving average of $3.57.

Aurora Cannabis Company Profile

Aurora Cannabis Inc is a Canadian cannabis company headquartered in Edmonton, Alberta. Founded in 2013, the company develops, produces, distributes and sells cannabis and cannabis-derived products for medical and adult-use markets. Its shares trade on the Toronto Stock Exchange and the Nasdaq under the symbol ACB.

Aurora’s product portfolio includes dried cannabis flower, pre-rolls, cannabis oils, softgels, vapes and other cannabis extracts. The company markets products through brands such as Aurora, San Rafael ’71, Daily Special and CanniMed, with offerings varying by market and applicable regulations.

The company serves Canada’s regulated adult-use and medical cannabis markets and has expanded its medical cannabis business internationally.