Aurora Cannabis (NASDAQ:ACB) Now Covered by Analysts at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Aurora Cannabis (NASDAQ:ACB) in a research report released on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Zacks Research raised shares of Aurora Cannabis from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Cannabis in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Aurora Cannabis Trading Up 2.3%

Shares of ACB stock opened at $4.42 on Tuesday. The stock has a market cap of $250.53 million, a P/E ratio of -6.41 and a beta of 0.31. The company has a quick ratio of 1.63, a current ratio of 3.41 and a debt-to-equity ratio of 0.06. Aurora Cannabis has a fifty-two week low of $3.42 and a fifty-two week high of $6.91. The business has a fifty day simple moving average of $4.50 and a 200-day simple moving average of $4.82.

Aurora Cannabis (NASDAQ:ACB) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. The firm had revenue of $64.88 million for 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, analysts forecast that Aurora Cannabis will post 0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ACB. TD Asset Management Inc increased its stake in Aurora Cannabis by 14.0% in the second quarter. TD Asset Management Inc now owns 69,463 shares of the company’s stock valued at $293,000 after purchasing an additional 8,514 shares during the last quarter. AdvisorShares Investments LLC purchased a new stake in Aurora Cannabis in the 2nd quarter valued at about $214,000. Silver Oak Securities Incorporated increased its stake in shares of Aurora Cannabis by 15.9% during the 4th quarter. Silver Oak Securities Incorporated now owns 21,732 shares of the company’s stock valued at $93,000 after acquiring an additional 2,984 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of 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 acquiring an additional 9,967 shares during the period. Finally, Wealthcare Advisory Partners LLC acquired a new stake in shares of Aurora Cannabis in the third quarter worth approximately $81,000. 47.63% of the stock is currently owned by institutional investors and hedge funds.

Aurora Cannabis Company Profile

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.