Candriam Luxembourg S.C.A. Takes $62,000 Position in Aurora Cannabis Inc (NYSE:ACB)

Candriam Luxembourg S.C.A. acquired a new position in shares of Aurora Cannabis Inc (NYSE:ACB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,405 shares of the company’s stock, valued at approximately $62,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Griffin Asset Management Inc. acquired a new position in Aurora Cannabis in the third quarter worth $128,000. QCI Asset Management Inc. NY raised its position in Aurora Cannabis by 4.8% in the fourth quarter. QCI Asset Management Inc. NY now owns 86,159 shares of the company’s stock worth $427,000 after acquiring an additional 3,913 shares in the last quarter. Virtu Financial LLC bought a new stake in Aurora Cannabis in the fourth quarter worth about $1,355,000. Boston Advisors LLC bought a new stake in Aurora Cannabis in the fourth quarter worth about $61,000. Finally, TCI Wealth Advisors Inc. bought a new stake in Aurora Cannabis in the fourth quarter worth about $51,000. Hedge funds and other institutional investors own 8.66% of the company’s stock.

Several equities research analysts have commented on the stock. Bank of America assumed coverage on shares of Aurora Cannabis in a research report on Wednesday. They issued a “buy” rating and a $11.00 price target on the stock. TheStreet upgraded Aurora Cannabis from a “d+” rating to a “c” rating in a report on Thursday, April 4th. ValuEngine upgraded Aurora Cannabis from a “hold” rating to a “buy” rating in a report on Tuesday, March 19th. GMP Securities raised Aurora Cannabis from a “hold” rating to a “buy” rating in a research note on Wednesday, March 13th. Finally, Cowen initiated coverage on Aurora Cannabis in a research report on Tuesday, March 5th. They set an “outperform” rating for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Aurora Cannabis currently has an average rating of “Buy” and a consensus price target of $10.25.

ACB stock traded up $0.04 during midday trading on Friday, reaching $9.00. The stock had a trading volume of 21,073,076 shares, compared to its average volume of 24,001,076. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of 75.00 and a beta of 2.99. Aurora Cannabis Inc has a twelve month low of $4.05 and a twelve month high of $12.52. The company has a quick ratio of 2.50, a current ratio of 3.31 and a debt-to-equity ratio of 0.08.

Aurora Cannabis (NYSE:ACB) last posted its earnings results on Monday, February 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. The company had revenue of $41.00 million during the quarter. Aurora Cannabis had a positive return on equity of 3.95% and a negative net margin of 57.54%. Sell-side analysts predict that Aurora Cannabis Inc will post -0.18 earnings per share for the current fiscal year.

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Aurora Cannabis Company Profile

Aurora Cannabis Inc produces and distributes medical cannabis products. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain, from facility engineering and design to cannabis breeding, genetics research, production, derivatives, high value-add product development, home cultivation, wholesale, and retail distribution.

Further Reading: Growth Stocks

Institutional Ownership by Quarter for Aurora Cannabis (NYSE:ACB)

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