Aurora Cannabis (NASDAQ:ACB) Upgraded by BMO Capital Markets to Hold Rating

Key Points

• BMO Capital Markets upgraded Aurora Cannabis to “Hold”; across analysts, the stock has an average “Hold” rating, with one Buy, two Hold and one Sell recommendation.
• Aurora reported quarterly EPS of $0.07, beating expectations for a $0.07 loss, while revenue of $60.98 million exceeded the $54.42 million consensus estimate. However, the company remained unprofitable, with a negative net margin of 32.26%.
• ACB opened at $2.99, versus a 12-month range of $2.56 to $6.66, and institutional investors currently own 47.63% of the stock.

Aurora Cannabis (NASDAQ:ACB - Get Free Report) was upgraded by equities research analysts at BMO Capital Markets to a "hold" rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on ACB. Weiss Ratings raised shares of Aurora Cannabis from a "sell (d-)" rating to a "sell (d)" rating in a research report on Tuesday, June 16th. Wall Street Zen raised shares of Aurora Cannabis from a "strong sell" rating to a "hold" rating in a report on Saturday. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Aurora Cannabis presently has an average rating of "Hold".

Aurora Cannabis Price Performance

Shares of Aurora Cannabis stock opened at $2.99 on Wednesday. Aurora Cannabis has a twelve month low of $2.56 and a twelve month high of $6.66. The company has a quick ratio of 3.32, a current ratio of 5.36 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $2.90 and a two-hundred day simple moving average of $3.35. The stock has a market capitalization of $185.20 million, a price-to-earnings ratio of -2.12 and a beta of 0.58.

Aurora Cannabis (NASDAQ:ACB - Get Free Report) last released its quarterly earnings results on Thursday, June 11th. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.14. The company had revenue of $60.98 million during the quarter, compared to the consensus estimate of $54.42 million. Aurora Cannabis had a negative net margin of 32.26% and a positive return on equity of 4.37%. Analysts forecast that Aurora Cannabis will post -0.3 EPS for the current year.

Institutional Trading of Aurora Cannabis

Institutional investors and hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp lifted its holdings in shares of Aurora Cannabis by 9,615.6% in the first quarter. Jones Financial Companies Lllp now owns 52,270 shares of the company's stock worth $229,000 after acquiring an additional 51,732 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Aurora Cannabis by 4.1% during 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 during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Aurora Cannabis during the 2nd quarter valued at approximately $68,000. Tidal Investments LLC increased its position in Aurora Cannabis by 6.0% during the 2nd quarter. Tidal Investments LLC now owns 1,509,483 shares of the company's stock worth $6,400,000 after purchasing an additional 86,045 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Aurora Cannabis during the 2nd quarter worth approximately $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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