Aurora Cannabis (NASDAQ:ACB) Stock Price Up 0.6% - Here's Why

Key Points

• Aurora Cannabis shares rose about 0.6% to $3.44 (intraday high $3.49) on Tuesday, with trading volume near 801,787 shares—roughly 48% below its average daily volume.
• The company missed expectations for the quarter, reporting EPS of $0.09 versus $0.10 expected and revenue of $68.6M against a $92.4M consensus, and posted a negative net margin of 23.46%.
• Analyst sentiment is mixed (one Buy, one Hold, one Sell) with an average rating of Hold; Aurora has a market cap of about $203M and roughly 47.6% institutional ownership.

Aurora Cannabis Inc. (NASDAQ:ACB - Get Free Report)'s stock price rose 0.6% during trading on Tuesday . The company traded as high as $3.49 and last traded at $3.44. Approximately 801,787 shares changed hands during trading, a decline of 48% from the average daily volume of 1,556,691 shares. The stock had previously closed at $3.42.

Wall Street Analyst Weigh In

ACB has been the topic of a number of recent research reports. Weiss Ratings raised Aurora Cannabis from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday. Canaccord Genuity Group started coverage on shares of Aurora Cannabis in a research 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold".

Aurora Cannabis Trading Up 0.6%

The firm has a market capitalization of $203.34 million, a P/E ratio of -3.19 and a beta of 0.51. The company has a current ratio of 3.06, a quick ratio of 1.48 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $3.49 and a two-hundred day moving average of $4.10.

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

Institutional Investors Weigh In On Aurora Cannabis

A number of institutional investors have recently modified their holdings of the company. State of Wyoming boosted its position in shares of Aurora Cannabis by 10.5% during the 2nd quarter. State of Wyoming now owns 23,722 shares of the company's stock valued at $101,000 after purchasing an additional 2,246 shares in the last quarter. Silver Oak Securities Incorporated boosted its position in shares of Aurora Cannabis by 15.9% during the 4th quarter. Silver Oak Securities Incorporated now owns 21,732 shares of the company's stock valued at $93,000 after purchasing an additional 2,984 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Aurora Cannabis by 4.7% during the 3rd quarter. TD Asset Management Inc now owns 72,735 shares of the company's stock valued at $434,000 after purchasing an additional 3,272 shares in the last quarter. 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 acquiring an additional 3,582 shares in the last quarter. Finally, Cobblestone Asset Management LLC boosted its stake in Aurora Cannabis by 18.6% during the fourth quarter. Cobblestone Asset Management LLC now owns 25,450 shares of the company's stock worth $107,000 after acquiring an additional 4,000 shares in the last quarter. 47.63% of the stock is owned by institutional investors.

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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