Aurora Cannabis (NASDAQ:ACB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Aurora Cannabis (NASDAQ:ACB) from a strong sell rating to a hold rating in a report published on Saturday.

Separately, Weiss Ratings upgraded Aurora Cannabis from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

Aurora Cannabis Stock Performance

NASDAQ ACB opened at $2.89 on Friday. Aurora Cannabis has a 12-month low of $2.56 and a 12-month high of $6.66. The firm has a 50-day moving average price of $2.88 and a two-hundred day moving average price of $3.33. The company has a market capitalization of $179.01 million, a P/E ratio of -2.05 and a beta of 0.58. The company has a quick ratio of 2.80, a current ratio of 5.36 and a debt-to-equity ratio of 0.03.

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

Hedge Funds Weigh In On Aurora Cannabis

Hedge funds and other institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. lifted its position in shares of Aurora Cannabis by 49.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 10,813 shares of the company’s stock worth $46,000 after buying an additional 3,582 shares during the last quarter. State of Wyoming bought a new position in Aurora Cannabis in the second quarter valued at about $56,000. Headlands Technologies LLC acquired a new position in Aurora Cannabis during the fourth quarter worth about $58,000. Northwestern Mutual Wealth Management Co. raised its stake in Aurora Cannabis by 1,808.9% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 10,518 shares of the company’s stock worth $63,000 after acquiring an additional 9,967 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new position in shares of Aurora Cannabis in the second quarter worth about $68,000. 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.