Aurora Cannabis (NASDAQ:ACB) Stock Price Down 0.5% - What's Next?

Key Points

• Aurora Cannabis shares fell 0.5% to $4.03 in mid-day trading, with volume 24% below the average session level.
• Analyst sentiment improved overall, with upgrades from several firms; MarketBeat now reports a consensus rating of “Moderate Buy.”
• The company beat quarterly expectations, reporting $0.04 in earnings per share versus the $0.13-per-share loss analysts expected, while revenue of $47.62 million slightly exceeded estimates. However, Aurora remained unprofitable, with a negative net margin of 32.26%.

Shares of Aurora Cannabis Inc. (NASDAQ:ACB - Get Free Report) dropped 0.5% on Wednesday . The stock traded as low as $4.01 and last traded at $4.03. Approximately 1,470,064 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 1,930,029 shares. The stock had previously closed at $4.05.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Zacks Research upgraded Aurora Cannabis from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. Weiss Ratings upgraded Aurora Cannabis from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, August 26th. BMO Capital Markets raised Aurora Cannabis to a "hold" rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen upgraded Aurora Cannabis from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Aurora Cannabis Price Performance

The firm has a market capitalization of $261.31 million, a price-to-earnings ratio of -2.86 and a beta of 0.63. The company has a quick ratio of 2.80, a current ratio of 5.36 and a debt-to-equity ratio of 0.03. The company's fifty day moving average is $3.13 and its two-hundred day moving average is $3.32.

Aurora Cannabis (NASDAQ:ACB - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.17. The firm had revenue of $47.62 million during the quarter, compared to analyst estimates of $47.45 million. Aurora Cannabis had a negative net margin of 32.26% and a positive return on equity of 4.37%. Equities research analysts anticipate that Aurora Cannabis Inc. will post -0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aurora Cannabis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACB. Tidal Investments LLC lifted its stake in Aurora Cannabis by 6.0% in the second quarter. Tidal Investments LLC now owns 1,509,483 shares of the company's stock valued at $6,400,000 after buying an additional 86,045 shares during the period. Two Sigma Investments LP increased its stake in shares of Aurora Cannabis by 7,412.0% in the 3rd quarter. Two Sigma Investments LP now owns 1,149,869 shares of the company's stock valued at $6,853,000 after acquiring an additional 1,134,562 shares during the last quarter. Goldman Sachs Group Inc. raised its position 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 acquiring an additional 29,099 shares during the period. Millennium Management LLC raised its position in shares of Aurora Cannabis by 563.7% in the 3rd quarter. Millennium Management LLC now owns 391,782 shares of the company's stock valued at $2,339,000 after acquiring an additional 332,750 shares during the period. Finally, UBS Group AG boosted its stake in Aurora Cannabis by 136.8% during the 3rd quarter. UBS Group AG now owns 184,190 shares of the company's stock worth $1,098,000 after acquiring an additional 106,391 shares during the last quarter. Institutional investors 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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