Aurora Cannabis (NASDAQ:ACB) Stock Price Down 2.5% – Here’s Why

Shares of Aurora Cannabis Inc. (NASDAQ:ACB) were down 2.5% during mid-day trading on Monday . The stock traded as low as $4.31 and last traded at $4.32. Approximately 629,134 shares were traded during trading, a decline of 41% from the average daily volume of 1,063,671 shares. The stock had previously closed at $4.43.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ACB shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aurora Cannabis in a research note on Wednesday, January 21st. Zacks Research upgraded shares of Aurora Cannabis from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Aurora Cannabis Stock Performance

The company has a market capitalization of $244.86 million, a price-to-earnings ratio of -6.26 and a beta of 0.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.63 and a current ratio of 3.41. The firm has a 50-day simple moving average of $4.50 and a two-hundred day simple moving average of $4.82.

Aurora Cannabis (NASDAQ:ACB) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. The firm had revenue of $64.88 million during the quarter, compared to analysts’ expectations of $86.45 million. Aurora Cannabis had a negative net margin of 15.96% and a negative return on equity of 0.58%. On average, sell-side analysts anticipate that Aurora Cannabis Inc. will post 0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in Aurora Cannabis by 1,808.9% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 10,518 shares of the company’s stock worth $63,000 after purchasing an additional 9,967 shares during the period. Wealthcare Advisory Partners LLC acquired a new position in shares of Aurora Cannabis during the third quarter worth about $81,000. Headlands Technologies LLC purchased a new stake in shares of Aurora Cannabis during the second quarter worth approximately $66,000. Engineers Gate Manager LP purchased a new stake in shares of Aurora Cannabis during the second quarter worth approximately $68,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Aurora Cannabis in the third quarter valued at approximately $100,000. 47.63% of the stock is owned by institutional investors and hedge funds.

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.