Aurora Cannabis (NASDAQ:ACB) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Aurora Cannabis (NASDAQ:ACB) announced its quarterly earnings data on Wednesday. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06, Zacks reports. Aurora Cannabis had a negative net margin of 15.96% and a negative return on equity of 0.57%. The business had revenue of $64.88 million for the quarter, compared to analysts’ expectations of $86.45 million.

Aurora Cannabis Stock Performance

Shares of ACB stock opened at $4.36 on Friday. The firm has a market capitalization of $245.12 million, a price-to-earnings ratio of -6.32 and a beta of 1.71. The company has a current ratio of 2.97, a quick ratio of 1.51 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $5.21 and its 200-day moving average price is $5.00. Aurora Cannabis has a 12 month low of $3.42 and a 12 month high of $6.91.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded Aurora Cannabis from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aurora Cannabis in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Aurora Cannabis from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On Aurora Cannabis

Several hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new stake in Aurora Cannabis during the 2nd quarter worth approximately $66,000. Engineers Gate Manager LP bought a new stake in shares of Aurora Cannabis in the second quarter worth $68,000. State of Wyoming increased its holdings in Aurora Cannabis by 10.5% in the second quarter. State of Wyoming now owns 23,722 shares of the company’s stock valued at $101,000 after purchasing an additional 2,246 shares during the period. Jones Financial Companies Lllp raised its position in Aurora Cannabis by 9,615.6% during the 1st quarter. Jones Financial Companies Lllp now owns 52,270 shares of the company’s stock worth $229,000 after purchasing an additional 51,732 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Aurora Cannabis by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 743,903 shares of the company’s stock worth $3,266,000 after buying an additional 29,099 shares during the period. 47.63% of the stock is currently owned by institutional investors and hedge funds.

Aurora Cannabis Company Profile

Aurora Cannabis Inc, together with its subsidiaries, produces, distributes, and sells cannabis and cannabis-derivative products in Canada and internationally. It operates through three segments: Canadian Cannabis, European Cannabis, and Plant Propagation. The company produces, distributes, and sells medical and consumer cannabis products in Canada.