Aurora Cannabis (NASDAQ:ACB) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered 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.

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

Aurora Cannabis Price Performance

Aurora Cannabis stock opened at $3.95 on Friday. The business’s 50-day simple moving average is $3.20 and its 200 day simple moving average is $3.33. The company has a quick ratio of 2.80, a current ratio of 5.36 and a debt-to-equity ratio of 0.03. The stock has a market cap of $256.12 million, a price-to-earnings ratio of -2.80 and a beta of 0.63. Aurora Cannabis has a 12-month low of $2.56 and a 12-month high of $6.66.

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

Institutional Trading of Aurora Cannabis

Several hedge funds have recently added to or reduced their stakes in the business. Two Sigma Securities LLC bought a new position in Aurora Cannabis during the second quarter worth about $36,000. State of Wyoming acquired a new stake in shares of Aurora Cannabis during the second quarter worth about $56,000. Baader Bank Aktiengesellschaft raised its position in shares of Aurora Cannabis by 37.3% during the first quarter. Baader Bank Aktiengesellschaft now owns 33,060 shares of the company’s stock worth $108,000 after purchasing an additional 8,990 shares during the period. Leonteq Securities AG lifted its holdings in shares of Aurora Cannabis by 24.7% during the 1st quarter. Leonteq Securities AG now owns 42,839 shares of the company’s stock valued at $140,000 after purchasing an additional 8,472 shares in the last quarter. Finally, Silver Oak Securities Incorporated grew its position in shares of Aurora Cannabis by 71.3% in the 1st quarter. Silver Oak Securities Incorporated now owns 37,223 shares of the company’s stock valued at $122,000 after purchasing an additional 15,491 shares during the period. Institutional investors and hedge funds own 47.63% of the company’s stock.

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.