Aurora Cannabis (NASDAQ:ACB) Stock Dropped to Strong Sell by TD Securities

TD Securities downgraded shares of Aurora Cannabis (NASDAQ:ACB) from a strong-buy rating to a strong sell rating in a research note released on Tuesday,Zacks reports.

Several other equities research analysts also recently commented on the stock. Weiss Ratings raised shares of Aurora Cannabis from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. BMO Capital Markets raised shares of Aurora Cannabis to a “hold” rating in a research report on Wednesday, August 5th. Zacks Research lowered shares of Aurora Cannabis from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Finally, Wall Street Zen upgraded shares of Aurora Cannabis from a “sell” rating to a “hold” rating in a research report on Sunday, September 13th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce”.

Aurora Cannabis Stock Performance

ACB stock opened at $5.24 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.36 and a quick ratio of 2.80. The company has a 50 day moving average price of $4.10 and a 200 day moving average price of $3.56. Aurora Cannabis has a fifty-two week low of $2.56 and a fifty-two week high of $6.36. The stock has a market capitalization of $344.39 million, a PE ratio of -3.72 and a beta of 0.65.

Aurora Cannabis (NASDAQ:ACB) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.17. The firm had revenue of $47.62 million for the quarter, compared to the consensus estimate of $47.45 million. Aurora Cannabis had a positive return on equity of 4.37% and a negative net margin of 32.26%. Analysts forecast that Aurora Cannabis will post -0.07 EPS for the current year.

Hedge Funds Weigh In On Aurora Cannabis

Several institutional investors and hedge funds have recently modified their holdings of ACB. Tidal Investments LLC increased its stake in Aurora Cannabis by 1.2% during the 2nd quarter. Tidal Investments LLC now owns 1,264,494 shares of the company’s stock worth $3,528,000 after purchasing an additional 14,827 shares in the last quarter. Baader Bank Aktiengesellschaft raised its holdings in Aurora Cannabis by 37.3% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 33,060 shares of the company’s stock worth $108,000 after buying an additional 8,990 shares during the period. State of Wyoming lifted its stake in Aurora Cannabis by 26.2% in the third quarter. State of Wyoming now owns 25,303 shares of the company’s stock valued at $99,000 after buying an additional 5,250 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new position in Aurora Cannabis in the second quarter valued at approximately $36,000. 47.63% of the stock is currently owned by institutional investors and hedge funds.

Aurora Cannabis Company Profile

Aurora Cannabis Inc is a Canadian cannabis company headquartered in Edmonton, Alberta. Founded in 2013, the company develops, produces, distributes and sells cannabis and cannabis-derived products for medical and adult-use markets. Its shares trade on the Toronto Stock Exchange and the Nasdaq under the symbol ACB.

Aurora’s product portfolio includes dried cannabis flower, pre-rolls, cannabis oils, softgels, vapes and other cannabis extracts. The company markets products through brands such as Aurora, San Rafael ’71, Daily Special and CanniMed, with offerings varying by market and applicable regulations.

The company serves Canada’s regulated adult-use and medical cannabis markets and has expanded its medical cannabis business internationally.