Aurora Cannabis (NASDAQ:ACB) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Aurora Cannabis from “hold” to “sell,” although the broader analyst consensus remains “Moderate Buy,” with ratings ranging from Strong Buy to Sell.
• Aurora’s latest quarterly results exceeded expectations, reporting adjusted EPS of $0.04 versus the consensus estimate of a $0.13 loss and revenue of $47.62 million.
• ACB shares opened at $3.95, with a market capitalization of approximately $256 million; institutional investors own 47.63% of the company, while Aurora continues to operate as a Canadian producer of medical and consumer cannabis products.

Aurora Cannabis (NASDAQ:ACB - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other equities analysts have also recently weighed in on the company. BMO Capital Markets raised Aurora Cannabis to a "hold" rating in a report on Wednesday, August 5th. Zacks Research raised Aurora Cannabis from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. Finally, Weiss Ratings upgraded Aurora Cannabis from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Aurora Cannabis has an average rating of "Moderate Buy".

Aurora Cannabis Stock Performance

Shares of ACB stock opened at $3.95 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.80 and a current ratio of 5.36. Aurora Cannabis has a fifty-two week low of $2.56 and a fifty-two week high of $6.66. The stock has a 50 day moving average price of $3.18 and a two-hundred day moving average price of $3.33. The company has a market capitalization of $256.12 million, a P/E ratio of -2.80 and a beta of 0.63.

Aurora Cannabis (NASDAQ:ACB - Get Free Report) last issued its earnings results 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. Aurora Cannabis had a negative net margin of 32.26% and a positive return on equity of 4.37%. The firm had revenue of $47.62 million for the quarter, compared to analysts' expectations of $47.45 million. Analysts expect that Aurora Cannabis will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Two Sigma Securities LLC purchased a new stake in shares of Aurora Cannabis in the second quarter valued at approximately $36,000. SBI Securities Co. Ltd. boosted its stake in Aurora Cannabis by 49.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 10,813 shares of the company's stock worth $46,000 after buying an additional 3,582 shares during the last quarter. State of Wyoming purchased a new stake in Aurora Cannabis in the 2nd quarter valued at $56,000. Headlands Technologies LLC acquired a new stake in shares of Aurora Cannabis in the 4th quarter worth $58,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Aurora Cannabis by 1,808.9% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 10,518 shares of the company's stock worth $63,000 after acquiring an additional 9,967 shares during the period. Hedge funds and other institutional investors own 47.63% of the company's stock.

Aurora Cannabis Company Profile

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.

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