Aurora Cannabis (NASDAQ:ACB) Upgraded by Atb Cap Markets to “Strong-Buy” Rating

Aurora Cannabis (NASDAQ:ACB) was upgraded by investment analysts at Atb Cap Markets from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Several other analysts also recently commented on the stock. TD Cowen assumed coverage on shares of Aurora Cannabis in a research report on Wednesday, December 11th. They set a “buy” rating on the stock. TD Securities raised Aurora Cannabis to a “strong-buy” rating in a research note on Thursday, December 12th.

Aurora Cannabis Stock Performance

Shares of NASDAQ ACB opened at $6.25 on Wednesday. Aurora Cannabis has a 12-month low of $2.84 and a 12-month high of $9.35. The firm has a market capitalization of $342.86 million, a price-to-earnings ratio of -8.22 and a beta of 1.84. The company has a current ratio of 3.83, a quick ratio of 1.88 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average of $4.24 and a 200 day moving average of $5.16.

Aurora Cannabis (NASDAQ:ACB) last released its earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.15. Aurora Cannabis had a negative return on equity of 2.19% and a negative net margin of 17.47%. On average, research analysts anticipate that Aurora Cannabis will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ACB. Tidal Investments LLC lifted its position in Aurora Cannabis by 2.7% during 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 during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Aurora Cannabis during the 2nd quarter worth approximately $50,000. SBI Securities Co. Ltd. purchased a new stake in Aurora Cannabis in the fourth quarter worth $31,000. Finally, Wealthspire Advisors LLC bought a new stake in shares of Aurora Cannabis during the fourth quarter worth $149,000. Institutional investors own 47.63% of the company’s stock.

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.