Kovack Advisors Inc. acquired a new position in Aurora Cannabis Inc (NYSE:ACB) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 17,858 shares of the company’s stock, valued at approximately $162,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ACB. Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Aurora Cannabis in the first quarter worth about $25,000. Flagship Harbor Advisors LLC purchased a new position in shares of Aurora Cannabis in the fourth quarter worth about $26,000. Carroll Financial Associates Inc. purchased a new position in shares of Aurora Cannabis in the first quarter worth about $27,000. Financial Management Professionals Inc. increased its holdings in shares of Aurora Cannabis by 586.3% in the first quarter. Financial Management Professionals Inc. now owns 3,061 shares of the company’s stock worth $28,000 after buying an additional 2,615 shares during the period. Finally, Advisory Services Network LLC purchased a new position in shares of Aurora Cannabis in the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 8.35% of the company’s stock.
NYSE ACB opened at $8.38 on Thursday. The company has a current ratio of 3.31, a quick ratio of 2.50 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $8.13 billion, a P/E ratio of 69.83 and a beta of 2.82. Aurora Cannabis Inc has a 1 year low of $4.05 and a 1 year high of $12.52.
Aurora Cannabis (NYSE:ACB) last posted its earnings results on Monday, February 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. The company had revenue of $41.00 million for the quarter. Aurora Cannabis had a positive return on equity of 3.95% and a negative net margin of 57.54%. As a group, analysts anticipate that Aurora Cannabis Inc will post -0.18 EPS for the current fiscal year.
ACB has been the topic of several analyst reports. Cowen began coverage on Aurora Cannabis in a report on Tuesday, March 5th. They issued an “outperform” rating on the stock. Seaport Global Securities began coverage on Aurora Cannabis in a research note on Thursday, February 21st. They issued a “neutral” rating on the stock. ValuEngine raised Aurora Cannabis from a “hold” rating to a “buy” rating in a research note on Tuesday, March 19th. TheStreet cut Aurora Cannabis from a “c” rating to a “d+” rating in a research note on Monday, February 25th. Finally, Jefferies Financial Group began coverage on Aurora Cannabis in a research note on Monday, February 25th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $9.86.
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About Aurora Cannabis
Aurora Cannabis Inc produces and distributes medical cannabis products. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain, from facility engineering and design to cannabis breeding, genetics research, production, derivatives, high value-add product development, home cultivation, wholesale, and retail distribution.
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