Aurora Cannabis (NYSE:ACB) Hits New 12-Month Low at $4.28

Aurora Cannabis Inc (NYSE:ACB)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $4.28 and last traded at $4.31, with a volume of 113963 shares traded. The stock had previously closed at $4.54.

Several research analysts recently issued reports on the company. Jefferies Financial Group raised Aurora Cannabis from an “underperform” rating to a “hold” rating in a research report on Monday, September 21st. Canaccord Genuity lowered their target price on Aurora Cannabis from $21.00 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, September 22nd. LADENBURG THALM/SH SH lowered Aurora Cannabis from a “buy” rating to a “neutral” rating and set a $9.00 target price for the company. in a research report on Tuesday, September 8th. Cowen reaffirmed a “hold” rating and set a $10.00 target price on shares of Aurora Cannabis in a research report on Wednesday, September 23rd. Finally, CIBC lowered their price objective on Aurora Cannabis from $20.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, September 24th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $14.03.

The company has a market capitalization of $575.14 million, a P/E ratio of -0.19 and a beta of 1.79. The stock’s 50 day moving average is $6.71 and its 200-day moving average is $10.06. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.54 and a quick ratio of 0.97.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley increased its stake in shares of Aurora Cannabis by 13.1% during the first quarter. Morgan Stanley now owns 3,337,403 shares of the company’s stock valued at $3,024,000 after purchasing an additional 385,432 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Aurora Cannabis during the second quarter valued at approximately $28,000. Centric Wealth Management bought a new position in shares of Aurora Cannabis during the third quarter valued at approximately $54,000. Virtu Financial LLC bought a new position in shares of Aurora Cannabis during the second quarter valued at approximately $880,000. Finally, Think Investments LP bought a new position in shares of Aurora Cannabis during the second quarter valued at approximately $7,777,000. 11.49% of the stock is owned by institutional investors and hedge funds.

About Aurora Cannabis (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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