Aurora Cannabis (NASDAQ:ACB) Raised to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen raised Aurora Cannabis from “strong sell” to “sell,” while the stock’s overall analyst consensus remains Hold.
• Shares of ACB were trading around $3.41, near the bottom of its 52-week range, with a market cap of about $201.6 million.
• The company recently reported weaker-than-expected earnings and revenue, posting $0.09 EPS versus $0.10 expected and revenue of $68.59 million versus $92.39 million forecast.

Aurora Cannabis (NASDAQ:ACB - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report issued on Saturday.

Several other equities research analysts have also weighed in on the company. Weiss Ratings raised Aurora Cannabis from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, May 1st. Canaccord Genuity Group initiated coverage on Aurora Cannabis in a report on Tuesday, January 27th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold".

Aurora Cannabis Trading Down 0.6%

Shares of ACB opened at $3.41 on Friday. The business has a 50-day moving average of $3.48 and a 200 day moving average of $4.07. Aurora Cannabis has a fifty-two week low of $3.07 and a fifty-two week high of $6.66. The firm has a market cap of $201.57 million, a P/E ratio of -3.16 and a beta of 0.51. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.48 and a current ratio of 3.06.

Aurora Cannabis (NASDAQ:ACB - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Aurora Cannabis had a negative return on equity of 0.04% and a negative net margin of 23.46%.The firm had revenue of $68.59 million during the quarter, compared to analysts' expectations of $92.39 million. As a group, research analysts forecast that Aurora Cannabis will post 0.16 EPS for the current year.

Institutional Investors Weigh In On Aurora Cannabis

Several hedge funds and other institutional investors have recently modified their holdings of ACB. Jones Financial Companies Lllp increased its position in shares of Aurora Cannabis by 9,615.6% during the first quarter. Jones Financial Companies Lllp now owns 52,270 shares of the company's stock valued at $229,000 after buying an additional 51,732 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Aurora Cannabis by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 743,903 shares of the company's stock valued at $3,266,000 after buying an additional 29,099 shares during the period. Engineers Gate Manager LP bought a new stake in shares of Aurora Cannabis during the second quarter valued at about $68,000. Tidal Investments LLC increased its position in shares of Aurora Cannabis by 6.0% during the second quarter. Tidal Investments LLC now owns 1,509,483 shares of the company's stock valued at $6,400,000 after buying an additional 86,045 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Aurora Cannabis during the second quarter valued at about $66,000. 47.63% of the stock is currently owned by institutional investors.

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.

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