Aurora Cannabis (NASDAQ:ACB) Rating Lowered to Strong Sell at TD Securities

Aurora Cannabis (NASDAQ:ACB) was downgraded by analysts at TD Securities from a “strong-buy” rating to a “strong sell” rating in a report issued on Tuesday, Zacks reports.

Other research analysts also recently issued reports about the company. Zacks Research downgraded Aurora Cannabis from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Wall Street Zen upgraded Aurora Cannabis from a “sell” rating to a “hold” rating in a research note on Sunday, September 13th. BMO Capital Markets raised Aurora Cannabis to a “hold” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings raised shares of Aurora Cannabis from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce”.

Aurora Cannabis Trading Up 1.6%

Shares of NASDAQ:ACB opened at $5.24 on Tuesday. The company’s 50-day moving average price is $4.10 and its two-hundred day moving average price is $3.56. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.36 and a quick ratio of 2.80. Aurora Cannabis has a one year low of $2.56 and a one year high of $6.36. The stock has a market capitalization of $344.39 million, a PE ratio of -3.72 and a beta of 0.65.

Aurora Cannabis (NASDAQ:ACB) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.17. The company had revenue of $47.62 million during the quarter, compared to analysts’ expectations of $47.45 million. Aurora Cannabis had a positive return on equity of 4.37% and a negative net margin of 32.26%. On average, equities analysts forecast that Aurora Cannabis will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Aurora Cannabis

Hedge funds have recently bought and sold shares of the company. State of Wyoming acquired a new position in Aurora Cannabis during the second quarter worth approximately $56,000. Tidal Investments LLC raised its stake in Aurora Cannabis by 1.2% in the second 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 bought a new stake in Aurora Cannabis in the second quarter valued at approximately $36,000. Finally, Baader Bank Aktiengesellschaft lifted its position in shares of Aurora Cannabis by 37.3% in the first quarter. Baader Bank Aktiengesellschaft now owns 33,060 shares of the company’s stock valued at $108,000 after buying an additional 8,990 shares during the last quarter. 47.63% of the stock is currently owned by institutional investors and hedge funds.

About Aurora Cannabis

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.

The company serves Canada’s regulated adult-use and medical cannabis markets and has expanded its medical cannabis business internationally.