Aurora Cannabis (NYSE:ACB) Shares Gap Down on Analyst Downgrade

Aurora Cannabis Inc (NYSE:ACB) gapped down prior to trading on Tuesday after Piper Jaffray Companies lowered their price target on the stock from $7.00 to $4.00. The stock had previously closed at $3.77, but opened at $3.69. Piper Jaffray Companies currently has a neutral rating on the stock. Aurora Cannabis shares last traded at $3.58, with a volume of 11,812,135 shares.

Other equities analysts have also recently issued reports about the company. MKM Partners cut Aurora Cannabis to a “sell” rating in a report on Friday, September 20th. Zacks Investment Research upgraded Aurora Cannabis from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. LADENBURG THALM/SH SH initiated coverage on Aurora Cannabis in a report on Wednesday, July 17th. They issued a “buy” rating and a $9.00 price objective for the company. Jefferies Financial Group set a $7.00 price objective on Aurora Cannabis and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, ValuEngine upgraded Aurora Cannabis from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $7.61.

Several institutional investors and hedge funds have recently bought and sold shares of ACB. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Aurora Cannabis in the 1st quarter worth about $768,000. Calton & Associates Inc. boosted its holdings in Aurora Cannabis by 11.0% during the 2nd quarter. Calton & Associates Inc. now owns 18,225 shares of the company’s stock valued at $143,000 after acquiring an additional 1,800 shares during the period. Valeo Financial Advisors LLC boosted its holdings in Aurora Cannabis by 156.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 6,561 shares of the company’s stock valued at $51,000 after acquiring an additional 4,000 shares during the period. Exane Derivatives boosted its holdings in Aurora Cannabis by 575.2% during the 2nd quarter. Exane Derivatives now owns 31,006 shares of the company’s stock valued at $242,000 after acquiring an additional 26,414 shares during the period. Finally, North Star Investment Management Corp. boosted its holdings in Aurora Cannabis by 22.4% during the 2nd quarter. North Star Investment Management Corp. now owns 17,500 shares of the company’s stock valued at $137,000 after acquiring an additional 3,200 shares during the period. Hedge funds and other institutional investors own 8.80% of the company’s stock.

The company has a market capitalization of $3.78 billion, a PE ratio of -16.68 and a beta of 2.39. The firm has a fifty day moving average of $4.71 and a two-hundred day moving average of $6.84. The company has a current ratio of 1.52, a quick ratio of 1.14 and a debt-to-equity ratio of 0.09.

Aurora Cannabis Company Profile (NYSE:ACB)

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.

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