Aurora Cannabis (NASDAQ:ACB) Stock Price Up 1.1% - Should You Buy?

Key Points

• Aurora Cannabis shares rose 1.1% on Thursday to $2.69, with trading volume running below its daily average.
• Recent earnings topped expectations, as the company reported $0.07 EPS versus an expected loss and revenue of $60.98 million, above the $54.42 million forecast.
• Analyst sentiment remains mixed, with the stock carrying an average Hold rating and institutional ownership at 47.63% after several funds increased their stakes.

Shares of Aurora Cannabis Inc. (NASDAQ:ACB - Get Free Report) were up 1.1% during trading on Thursday . The company traded as high as $2.70 and last traded at $2.69. Approximately 899,314 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 1,123,534 shares. The stock had previously closed at $2.66.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ACB shares. Wall Street Zen raised shares of Aurora Cannabis from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 9th. Weiss Ratings raised shares of Aurora Cannabis from a "sell (d-)" rating to a "sell (d)" rating in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold".

Aurora Cannabis Stock Up 1.1%

The firm has a fifty day simple moving average of $3.04 and a 200-day simple moving average of $3.45. The company has a market capitalization of $165.00 million, a P/E ratio of -1.72 and a beta of 0.57. The company has a quick ratio of 3.32, a current ratio of 5.94 and a debt-to-equity ratio of 0.04.

Aurora Cannabis (NASDAQ:ACB - Get Free Report) last released its quarterly earnings data on Thursday, June 11th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.14. Aurora Cannabis had a positive return on equity of 0.10% and a negative net margin of 33.57%.The business had revenue of $60.98 million for the quarter, compared to analysts' expectations of $54.42 million. On average, equities research analysts expect that Aurora Cannabis Inc. will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Two Sigma Investments LP lifted its holdings in shares of Aurora Cannabis by 7,412.0% in the third quarter. Two Sigma Investments LP now owns 1,149,869 shares of the company's stock valued at $6,853,000 after purchasing an additional 1,134,562 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Aurora Cannabis by 563.7% during the third quarter. Millennium Management LLC now owns 391,782 shares of the company's stock worth $2,339,000 after buying an additional 332,750 shares in the last quarter. Trexquant Investment LP acquired a new stake in Aurora Cannabis in the 4th quarter valued at approximately $590,000. UBS Group AG raised its position in Aurora Cannabis by 136.8% in the 3rd quarter. UBS Group AG now owns 184,190 shares of the company's stock valued at $1,098,000 after buying an additional 106,391 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in 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 acquiring an additional 86,045 shares in the last quarter. Institutional investors and hedge funds 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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