Aurora Cannabis Inc. (NASDAQ:ACB) Stock Now Rated “Reduce” by Wall Street Analysts

Shares of Aurora Cannabis Inc. (NASDAQ:ACB) have been assigned an average rating of “Reduce” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company.

ACB has been the topic of a number of recent analyst reports. BMO Capital Markets upgraded Aurora Cannabis to a “hold” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded Aurora Cannabis from a “sell” rating to a “hold” rating in a research report on Sunday, September 13th. Weiss Ratings raised Aurora Cannabis from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 2nd. Zacks Research downgraded Aurora Cannabis from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, TD Securities downgraded Aurora Cannabis from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, November 3rd.

Hedge Funds Weigh In On Aurora Cannabis

Institutional investors have recently modified their holdings of the company. JW Asset Management LLC purchased a new stake in Aurora Cannabis during the third quarter valued at about $156,000. State of Wyoming raised its holdings in Aurora Cannabis by 26.2% during the 3rd quarter. State of Wyoming now owns 25,303 shares of the company’s stock valued at $99,000 after buying an additional 5,250 shares during the last quarter. Tidal Investments LLC boosted its position in Aurora Cannabis by 1.2% during the 2nd quarter. Tidal Investments LLC now owns 1,264,494 shares of the company’s stock valued at $3,528,000 after buying an additional 14,827 shares during the period. Two Sigma Securities LLC purchased a new position in Aurora Cannabis during the 2nd quarter valued at about $36,000. Finally, Baader Bank Aktiengesellschaft lifted its holdings in Aurora Cannabis by 37.3% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 33,060 shares of the company’s stock worth $108,000 after buying an additional 8,990 shares during the period. 47.63% of the stock is currently owned by institutional investors.

Aurora Cannabis Stock Performance

Aurora Cannabis stock opened at $5.05 on Thursday. Aurora Cannabis has a 1-year low of $2.56 and a 1-year high of $6.36. The company has a current ratio of 5.00, a quick ratio of 2.60 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $331.89 million, a PE ratio of -5.15 and a beta of 0.65. The firm’s 50 day simple moving average is $4.21 and its 200 day simple moving average is $3.58.

Aurora Cannabis Company Profile

Aurora Cannabis Inc. is a Canadian cannabis company headquartered in Edmonton, Alberta. Founded in 2013, the company develops, produces, distributes and sells cannabis and cannabis-derived products for medical and adult-use markets. Its shares trade on the Toronto Stock Exchange and the Nasdaq under the symbol ACB. Aurora’s product portfolio includes dried cannabis flower, pre-rolls, cannabis oils, softgels, vapes and other cannabis extracts. The company markets products through brands such as Aurora, San Rafael ’71, Daily Special and CanniMed, with offerings varying by market and applicable regulations.