Aurora Cannabis (NYSE:ACB) Stock Rating Lowered by ValuEngine

Aurora Cannabis (NYSE:ACB) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Friday, ValuEngine reports.

Several other equities research analysts have also issued reports on the company. Bank of America lowered Aurora Cannabis from a “buy” rating to a “neutral” rating and set a $7.30 target price for the company. in a research report on Thursday, July 18th. Compass Point initiated coverage on Aurora Cannabis in a report on Monday, July 8th. They issued a “neutral” rating for the company. Zacks Investment Research raised Aurora Cannabis from a “sell” rating to a “hold” rating in a report on Tuesday. Stifel Nicolaus initiated coverage on Aurora Cannabis in a report on Wednesday, June 5th. They issued a “hold” rating for the company. Finally, Desjardins initiated coverage on Aurora Cannabis in a report on Thursday, April 25th. They issued a “buy” rating and a $9.07 price objective for the company. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $8.72.

Shares of Aurora Cannabis stock traded up $0.48 during trading hours on Friday, hitting $6.33. 15,748,787 shares of the company’s stock traded hands, compared to its average volume of 21,465,143. Aurora Cannabis has a 12-month low of $4.05 and a 12-month high of $12.52. The stock has a market capitalization of $5.93 billion, a PE ratio of 52.75 and a beta of 2.49. The stock’s fifty day moving average is $7.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.37 and a quick ratio of 1.98.

Aurora Cannabis (NYSE:ACB) last announced its earnings results on Tuesday, May 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.05). Aurora Cannabis had a negative net margin of 122.65% and a positive return on equity of 1.24%. The business had revenue of $49.00 million for the quarter, compared to analysts’ expectations of $50.92 million. Sell-side analysts anticipate that Aurora Cannabis will post -0.23 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Moisand Fitzgerald Tamayo LLC purchased a new stake in Aurora Cannabis in the 1st quarter worth about $25,000. Carroll Financial Associates Inc. purchased a new stake in Aurora Cannabis in the 1st quarter worth about $27,000. Mackey Komara & Dankovich LLC bought a new position in Aurora Cannabis in the 2nd quarter worth about $27,000. Financial Management Professionals Inc. boosted its stake in Aurora Cannabis by 586.3% in the 1st quarter. Financial Management Professionals Inc. now owns 3,061 shares of the company’s stock worth $28,000 after purchasing an additional 2,615 shares during the period. Finally, Advisory Services Network LLC bought a new position in Aurora Cannabis in the 4th quarter worth about $29,000. 9.02% of the stock is owned by institutional investors.

About Aurora Cannabis

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.

See Also: Outstanding Shares and The Effect on Share Price

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Aurora Cannabis (NYSE:ACB)

Receive News & Ratings for Aurora Cannabis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aurora Cannabis and related companies with MarketBeat.com's FREE daily email newsletter.