Aurora Cannabis (TSE:ACB) Stock Price Up 41.3% – Here’s Why

Shares of Aurora Cannabis Inc. (TSE:ACB) were up 41.3% during trading on Wednesday . The company traded as high as C$7.57 and last traded at C$7.46. Approximately 934,168 shares changed hands during mid-day trading, an increase of 184% from the average daily volume of 329,183 shares. The stock had previously closed at C$5.28.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ACB. ATB Capital decreased their price objective on Aurora Cannabis from C$11.00 to C$8.50 in a research report on Tuesday, December 17th. TD Securities upgraded Aurora Cannabis to a “strong-buy” rating in a research report on Thursday, December 12th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Aurora Cannabis has an average rating of “Moderate Buy” and a consensus price target of C$5.85.

Aurora Cannabis Stock Up 42.8 %

The company has a fifty day moving average price of C$6.00 and a 200-day moving average price of C$7.16. The company has a quick ratio of 2.48, a current ratio of 3.76 and a debt-to-equity ratio of 16.95. The stock has a market capitalization of C$412.14 million, a P/E ratio of -11.97 and a beta of 2.71.

Aurora Cannabis (TSE:ACB) last announced its quarterly earnings results on Wednesday, November 6th. The company reported C$0.05 earnings per share for the quarter, topping the consensus estimate of C($0.30) by C$0.35. Aurora Cannabis had a negative return on equity of 6.13% and a negative net margin of 11.53%. During the same quarter in the prior year, the company posted ($0.70) EPS. As a group, research analysts forecast that Aurora Cannabis Inc. will post -0.22 EPS for the current fiscal year.

About Aurora Cannabis

Aurora Cannabis, headquartered in Edmonton, Canada, cultivates and sells medicinal and recreational cannabis through a portfolio of brands that includes Aurora, CanniMed, Daily Special, MedReleaf, and San Rafael ’71. Although the company primarily operates in Canada, it has expanded internationally through medical cannabis exporting agreements or cultivation facilities in more than 20 countries.