Canaccord Genuity Group Begins Coverage on Aurora Cannabis (NASDAQ:ACB)

Canaccord Genuity Group initiated coverage on shares of Aurora Cannabis (NASDAQ:ACB) in a report released on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating on the stock.

A number of other research analysts have also issued reports on ACB. Zacks Research raised shares of Aurora Cannabis from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aurora Cannabis in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Aurora Cannabis Stock Down 2.3%

Shares of Aurora Cannabis stock opened at $4.32 on Tuesday. The stock has a market capitalization of $244.86 million, a price-to-earnings ratio of -6.26 and a beta of 0.31. Aurora Cannabis has a twelve month low of $3.42 and a twelve month high of $6.91. The company has a current ratio of 3.41, a quick ratio of 1.63 and a debt-to-equity ratio of 0.06. The business’s 50 day simple moving average is $4.50 and its 200-day simple moving average is $4.82.

Aurora Cannabis (NASDAQ:ACB) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. Aurora Cannabis had a negative return on equity of 0.58% and a negative net margin of 15.96%.The firm had revenue of $64.88 million during the quarter, compared to the consensus estimate of $86.45 million. Equities research analysts forecast that Aurora Cannabis will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. TD Asset Management Inc raised its stake in shares of Aurora Cannabis by 14.0% in the 2nd quarter. TD Asset Management Inc now owns 69,463 shares of the company’s stock worth $293,000 after buying an additional 8,514 shares in the last quarter. AdvisorShares Investments LLC acquired a new position in Aurora Cannabis during the second quarter worth about $214,000. Silver Oak Securities Incorporated raised its position in Aurora Cannabis by 15.9% in the fourth quarter. Silver Oak Securities Incorporated now owns 21,732 shares of the company’s stock worth $93,000 after acquiring an additional 2,984 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Aurora Cannabis by 1,808.9% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 10,518 shares of the company’s stock valued at $63,000 after acquiring an additional 9,967 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC bought a new position in shares of Aurora Cannabis during the 3rd quarter valued at about $81,000. Institutional investors and hedge funds own 47.63% of the company’s stock.

Aurora Cannabis Company Profile

Aurora Cannabis Inc (NASDAQ: ACB) is a Canadian licensed producer of medical and consumer cannabis products headquartered in Edmonton, Alberta. Established in 2013, the company operates under Health Canada’s regulations to cultivate, process and distribute a range of cannabis-based offerings. Since its initial public listing in 2017, Aurora has grown into one of the country’s largest growers by cultivation capacity and production output.

The company’s core business spans the cultivation of dried flower, the extraction of cannabis oils and the development of value-added products such as softgels, capsules and topical treatments.