Aurora Cannabis (NASDAQ:ACB) Stock Price Down 5.2% – Here’s What Happened

Aurora Cannabis Inc. (NASDAQ:ACB)’s share price fell 5.2% during mid-day trading on Thursday . The stock traded as low as $4.33 and last traded at $4.42. 632,491 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 875,832 shares. The stock had previously closed at $4.66.

Analysts Set New Price Targets

ACB has been the subject of several recent research reports. TD Securities raised Aurora Cannabis to a “strong-buy” rating in a report on Thursday, December 12th. TD Cowen initiated coverage on shares of Aurora Cannabis in a research note on Wednesday, December 11th. They set a “buy” rating for the company.

Aurora Cannabis Trading Down 6.6 %

The business has a 50 day moving average of $4.52 and a 200 day moving average of $5.34. The firm has a market capitalization of $226.50 million, a price-to-earnings ratio of -5.43 and a beta of 1.86. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.83 and a quick ratio of 1.88.

Institutional Trading of Aurora Cannabis

A number of hedge funds have recently modified their holdings of ACB. Cubist Systematic Strategies LLC acquired a new position in Aurora Cannabis in the second quarter valued at about $50,000. Toronto Dominion Bank lifted its holdings in shares of Aurora Cannabis by 34,356.4% during the 2nd quarter. Toronto Dominion Bank now owns 18,951 shares of the company’s stock valued at $88,000 after purchasing an additional 18,896 shares in the last quarter. Mackenzie Financial Corp bought a new stake in shares of Aurora Cannabis during the second quarter worth $113,000. Tidal Investments LLC lifted its holdings in shares of Aurora Cannabis by 2.7% in the third quarter. Tidal Investments LLC now owns 1,344,321 shares of the company’s stock valued at $7,905,000 after purchasing an additional 34,988 shares in the last quarter. Finally, Headlands Technologies LLC raised its position in Aurora Cannabis by 98.8% in the 2nd quarter. Headlands Technologies LLC now owns 74,988 shares of the company’s stock valued at $346,000 after buying an additional 37,269 shares during the last quarter. 47.63% of the stock is currently owned by institutional investors and hedge funds.

Aurora Cannabis Company Profile

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.