Aurora Cannabis (NASDAQ:ACB) Upgraded to Hold at Zacks Research

Key Points

• Aurora Cannabis has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, signaling a potential shift in analysts' perception.
• Despite this upgrade, other firms such as Wall Street Zen have downgraded the stock to a "sell," resulting in a consensus rating of "Moderate Buy" among analysts.
• Aurora Cannabis reported a loss of ($0.19) EPS for the last quarter, missing consensus estimates significantly, which may affect investor confidence moving forward.

Aurora Cannabis (NASDAQ:ACB - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research firms have also recently weighed in on ACB. Wall Street Zen cut Aurora Cannabis from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aurora Cannabis in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy".

Aurora Cannabis Trading Up 6.2%

ACB opened at $6.17 on Monday. The company has a market cap of $346.88 million, a P/E ratio of -32.47 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. Aurora Cannabis has a one year low of $3.42 and a one year high of $6.91. The business's 50-day simple moving average is $5.09 and its 200-day simple moving average is $4.87.

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

Hedge Funds Weigh In On Aurora Cannabis

Hedge funds have recently bought and sold shares of the company. DKM Wealth Management Inc. purchased a new position in Aurora Cannabis in the 2nd quarter valued at approximately $42,000. JW Asset Management LLC purchased a new position in Aurora Cannabis in the 1st quarter valued at approximately $58,000. Cobblestone Asset Management LLC purchased a new position in Aurora Cannabis in the 1st quarter valued at approximately $67,000. Headlands Technologies LLC purchased a new position in Aurora Cannabis in the 2nd quarter valued at approximately $66,000. Finally, Millennium Management LLC purchased a new position in Aurora Cannabis in the 4th quarter valued at approximately $67,000. 47.63% of the stock is owned by hedge funds and other institutional investors.

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.

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