Shares of Aurora Cannabis Inc. (NASDAQ:ACB – Get Free Report) traded up 1.1% on Thursday . The company traded as high as $2.70 and last traded at $2.69. Approximately 899,314 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 1,123,534 shares. The stock had previously closed at $2.66.
Analyst Upgrades and Downgrades
ACB has been the subject of a number of research reports. Wall Street Zen upgraded shares of Aurora Cannabis from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings raised Aurora Cannabis from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Aurora Cannabis currently has a consensus rating of “Hold”.
View Our Latest Research Report on ACB
Aurora Cannabis Trading Down 0.7%
Aurora Cannabis (NASDAQ:ACB – Get Free Report) last announced its quarterly earnings data on Thursday, June 11th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.14. Aurora Cannabis had a negative net margin of 33.57% and a positive return on equity of 0.10%. The business had revenue of $60.98 million for the quarter, compared to the consensus estimate of $54.42 million. As a group, analysts expect that Aurora Cannabis Inc. will post -0.3 EPS for the current fiscal year.
Institutional Investors Weigh In On Aurora Cannabis
Several hedge funds have recently made changes to their positions in ACB. Baader Bank Aktiengesellschaft grew 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 purchasing an additional 8,990 shares during the period. Leonteq Securities AG lifted its position in Aurora Cannabis by 24.7% during the first quarter. Leonteq Securities AG now owns 42,839 shares of the company’s stock worth $140,000 after buying an additional 8,472 shares during the period. Silver Oak Securities Incorporated lifted its position in Aurora Cannabis by 71.3% during the first quarter. Silver Oak Securities Incorporated now owns 37,223 shares of the company’s stock worth $122,000 after buying an additional 15,491 shares during the period. Virtu Financial LLC acquired a new stake in Aurora Cannabis in the 4th quarter worth about $177,000. Finally, Mackenzie Financial Corp boosted its stake in Aurora Cannabis by 64.3% in the 4th quarter. Mackenzie Financial Corp now owns 55,709 shares of the company’s stock worth $237,000 after buying an additional 21,800 shares during the last quarter. Institutional investors and hedge funds own 47.63% of the company’s stock.
About Aurora Cannabis
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.
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