Aurora Cannabis (NASDAQ:ACB) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Aurora Cannabis (NASDAQ:ACB) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks reports.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets raised shares of Aurora Cannabis to a “hold” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded Aurora Cannabis from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 2nd. Finally, Wall Street Zen upgraded shares of Aurora Cannabis from a “sell” rating to a “hold” rating in a research note on Sunday, September 13th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Aurora Cannabis Stock Performance

Shares of Aurora Cannabis stock opened at $4.46 on Monday. Aurora Cannabis has a one year low of $2.56 and a one year high of $6.66. The company has a market cap of $293.11 million, a price-to-earnings ratio of -3.16 and a beta of 0.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.80 and a current ratio of 5.36. The business’s 50 day moving average price is $3.78 and its 200 day moving average price is $3.40.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Two Sigma Securities LLC acquired a new stake in Aurora Cannabis in the second quarter valued at $36,000. State of Wyoming acquired a new position in shares of Aurora Cannabis during the 2nd quarter worth $56,000. Baader Bank Aktiengesellschaft grew its stake in shares of 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 purchasing an additional 8,990 shares during the period. Silver Oak Securities Incorporated increased its holdings 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 in the last quarter. Finally, Leonteq Securities AG increased its holdings in shares of Aurora Cannabis by 24.7% in 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. Hedge funds and other institutional investors own 47.63% of the company’s stock.

Trending Headlines about Aurora Cannabis

Here are the key news stories impacting Aurora Cannabis this week:

• Positive Sentiment: Curaleaf raised its hostile acquisition offer to $5 per share, increasing the potential value available to Aurora shareholders and intensifying expectations for cannabis-sector consolidation. The higher offer is also being supported by optimism surrounding potential Schedule III tax relief. Curaleaf’s Higher Aurora Bid Raises the Stakes in Cannabis Consolidation
• Positive Sentiment: The takeover approach has already helped Aurora shares gain previously, as investors weigh the possibility of a transaction at a premium to the market price. Tilray’s upcoming earnings may also provide a broader read on cannabis-industry conditions. Aurora Cannabis Shares Gain After Curaleaf Raises Acquisition Offer
• Neutral Sentiment: Aurora’s Special Committee has begun an independent review of the revised hostile bid. Management is advising shareholders to take no action until the review is complete and a formal recommendation is issued; Curaleaf has reportedly not yet filed the revised offer. Aurora Urges Shareholders to Take No Action
• Negative Sentiment: Zacks Research downgraded ACB from “Strong Buy” to “Hold,” removing a potential source of buying support and signaling a more cautious near-term view of the company’s standalone prospects. Aurora Cannabis Rating Lowered to Hold

Aurora Cannabis Company Profile

Aurora Cannabis Inc is a Canadian cannabis company focused primarily on the production, distribution and sale of medical cannabis. The company offers cannabis products such as dried flower, pre-rolls, oils, softgels, capsules and other formulations through its medical and consumer brands.

Founded in 2013 and headquartered in Edmonton, Alberta, Aurora serves adult-use and medical markets in Canada and supplies medical cannabis to selected international markets. Its international operations and partnerships have included markets in Europe, Australia and other regions where cannabis is permitted for medical use.

Aurora sells products under brands including Aurora, CanniMed, MedReleaf and San Rafael ’71.