Aurora Cannabis (NASDAQ:ACB) Trading Down 2.5% – Here’s What Happened

Aurora Cannabis Inc. (NASDAQ:ACB) dropped 2.5% during trading on Monday . The stock traded as low as $4.31 and last traded at $4.32. Approximately 629,134 shares traded hands during trading, a decline of 41% from the average daily volume of 1,063,671 shares. The stock had previously closed at $4.43.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aurora Cannabis in a research note on Wednesday, January 21st. Zacks Research raised Aurora Cannabis from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Aurora Cannabis presently has a consensus rating of “Hold”.

Aurora Cannabis Price Performance

The firm has a market capitalization of $244.86 million, a PE ratio of -6.26 and a beta of 0.31. 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 company has a fifty day moving average price of $4.50 and a two-hundred day moving average price of $4.82.

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

Institutional Investors Weigh In On Aurora Cannabis

Institutional investors and hedge funds have recently made changes to their positions in the business. State of Wyoming increased its position in shares of Aurora Cannabis by 10.5% in the second quarter. State of Wyoming now owns 23,722 shares of the company’s stock valued at $101,000 after buying an additional 2,246 shares in the last quarter. Silver Oak Securities Incorporated grew its stake in Aurora Cannabis by 15.9% in the 4th quarter. Silver Oak Securities Incorporated now owns 21,732 shares of the company’s stock valued at $93,000 after acquiring an additional 2,984 shares during the last quarter. TD Asset Management Inc increased its holdings in Aurora Cannabis by 4.7% during the 3rd quarter. TD Asset Management Inc now owns 72,735 shares of the company’s stock valued at $434,000 after acquiring an additional 3,272 shares in the last quarter. Cobblestone Asset Management LLC raised its position in Aurora Cannabis by 18.6% during the fourth quarter. Cobblestone Asset Management LLC now owns 25,450 shares of the company’s stock worth $107,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in Aurora Cannabis by 15.0% during the third quarter. Mackenzie Financial Corp now owns 33,909 shares of the company’s stock worth $202,000 after acquiring an additional 4,422 shares during the last quarter. 47.63% of the stock is owned by hedge funds and other institutional investors.

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.