Aurora Cannabis (NASDAQ:ACB) Stock Price Down 6% - Here's Why

Key Points

• Aurora Cannabis stock price dropped by 6%, trading as low as $5.27, amidst unusually low trading volume of 1.2 million shares compared to an average of 2.5 million shares.
• Multiple analysts have issued mixed ratings on Aurora Cannabis, with Weiss Ratings maintaining a "sell" rating, while Zacks upgraded it to "hold", resulting in an average rating of "Moderate Buy".
• In its latest quarterly report, Aurora Cannabis posted an earnings per share (EPS) of -$0.19, significantly missing analysts' expectations and generating revenue of only $71.98 million compared to the anticipated $96.83 million.

Aurora Cannabis Inc. (NASDAQ:ACB - Get Free Report)'s share price fell 6% during mid-day trading on Thursday . The stock traded as low as $5.27 and last traded at $5.29. 1,213,408 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 2,476,166 shares. The stock had previously closed at $5.63.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ACB. Weiss Ratings restated a "sell (d-)" rating on shares of Aurora Cannabis in a report on Wednesday, October 8th. Zacks Research upgraded shares of Aurora Cannabis from a "strong sell" rating to a "hold" rating in a report on Monday, October 6th. Finally, Wall Street Zen cut shares of Aurora Cannabis from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Aurora Cannabis has an average rating of "Moderate Buy".

Aurora Cannabis Stock Performance

The company has a market cap of $297.40 million, a PE ratio of -27.84 and a beta of 1.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.51 and a current ratio of 2.97. The stock's 50-day simple moving average is $5.26 and its 200 day simple moving average is $4.92.

Aurora Cannabis (NASDAQ:ACB - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.19) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.37). The firm had revenue of $71.98 million for the quarter, compared to analysts' expectations of $96.83 million. Aurora Cannabis had a negative return on equity of 1.49% and a negative net margin of 5.66%. As a group, equities analysts anticipate that Aurora Cannabis Inc. will post 0.46 EPS for the current year.

Hedge Funds Weigh In On Aurora Cannabis

A number of large investors have recently bought and sold shares of ACB. Tidal Investments LLC increased its holdings in shares of Aurora Cannabis by 6.0% in the 2nd quarter. Tidal Investments LLC now owns 1,509,483 shares of the company's stock valued at $6,400,000 after purchasing an additional 86,045 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Aurora Cannabis by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 743,903 shares of the company's stock valued at $3,266,000 after purchasing an additional 29,099 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Aurora Cannabis by 358.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 238,460 shares of the company's stock valued at $1,047,000 after purchasing an additional 186,462 shares in the last quarter. Northwest & Ethical Investments L.P. purchased a new position in shares of Aurora Cannabis in the 1st quarter valued at about $452,000. Finally, TD Asset Management Inc increased its holdings in shares of Aurora Cannabis by 14.0% in the 2nd quarter. TD Asset Management Inc now owns 69,463 shares of the company's stock valued at $293,000 after purchasing an additional 8,514 shares in the last quarter. Hedge funds and other institutional investors own 47.63% of the company's stock.

About Aurora Cannabis

Aurora Cannabis Inc, together with its subsidiaries, produces, distributes, and sells cannabis and cannabis-derivative products in Canada and internationally. It operates through three segments: Canadian Cannabis, European Cannabis, and Plant Propagation. The company produces, distributes, and sells medical and consumer cannabis products in Canada.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.