Aurora Cannabis (NASDAQ:ACB) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Aurora Cannabis (NASDAQ:ACB) from a hold rating to a sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

A number of other research analysts have also recently commented on ACB. Zacks Research upgraded shares of Aurora Cannabis from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Weiss Ratings upgraded shares of Aurora Cannabis from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 26th. Finally, BMO Capital Markets raised shares of Aurora Cannabis to a “hold” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Aurora Cannabis presently has an average rating of “Moderate Buy”.

Aurora Cannabis Trading Up 1.5%

Shares of ACB stock opened at $3.95 on Friday. Aurora Cannabis has a 1 year low of $2.56 and a 1 year high of $6.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.36 and a quick ratio of 2.80. The stock’s 50 day simple moving average is $3.18 and its two-hundred day simple moving average is $3.33. The company has a market cap of $256.12 million, a PE ratio of -2.80 and a beta of 0.63.

Aurora Cannabis (NASDAQ:ACB) last announced its earnings results on Wednesday, August 5th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.17. Aurora Cannabis had a positive return on equity of 4.37% and a negative net margin of 32.26%.The firm had revenue of $47.62 million during the quarter, compared to analysts’ expectations of $47.45 million. Research analysts predict that Aurora Cannabis will post -0.07 earnings per share for the current year.

Institutional Investors Weigh In On Aurora Cannabis

A number of hedge funds have recently made changes to their positions in ACB. Tidal Investments LLC boosted its position in Aurora Cannabis by 6.0% during the second quarter. Tidal Investments LLC now owns 1,509,483 shares of the company’s stock valued at $6,400,000 after purchasing an additional 86,045 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Aurora Cannabis by 7,412.0% during the third quarter. Two Sigma Investments LP now owns 1,149,869 shares of the company’s stock valued at $6,853,000 after buying an additional 1,134,562 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Aurora Cannabis by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 743,903 shares of the company’s stock valued at $3,266,000 after buying an additional 29,099 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Aurora Cannabis by 563.7% in the 3rd quarter. Millennium Management LLC now owns 391,782 shares of the company’s stock valued at $2,339,000 after buying an additional 332,750 shares in the last quarter. Finally, UBS Group AG boosted its holdings in shares of Aurora Cannabis by 136.8% in the 3rd 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 in the last quarter. 47.63% of the stock is currently owned by hedge funds and other institutional investors.

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.