Shares of Aurora Cannabis Inc. (NYSE:ACB) have been given an average rating of “Sell” by the fourteen brokerages that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $8.25.
ACB has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Aurora Cannabis from a “hold” rating to a “sell” rating in a research report on Wednesday, September 8th. Canaccord Genuity reiterated a “sell” rating and set a $7.00 price target (down from $14.00) on shares of Aurora Cannabis in a research report on Thursday, May 20th. Atb Cap Markets reiterated an “underperform” rating on shares of Aurora Cannabis in a research report on Friday, July 23rd. Finally, Jefferies Financial Group upgraded shares of Aurora Cannabis from an “underperform” rating to a “hold” rating and cut their target price for the stock from $7.49 to $6.78 in a report on Friday, September 3rd.
ACB stock opened at $6.50 on Wednesday. The company has a current ratio of 5.88, a quick ratio of 4.95 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $7.19 and its 200 day moving average is $8.36. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -0.44 and a beta of 3.17. Aurora Cannabis has a 1-year low of $3.71 and a 1-year high of $18.98.
A number of institutional investors have recently made changes to their positions in ACB. Glassman Wealth Services raised its position in shares of Aurora Cannabis by 107.2% in the 2nd quarter. Glassman Wealth Services now owns 3,866 shares of the company’s stock worth $35,000 after purchasing an additional 2,000 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Aurora Cannabis in the 2nd quarter worth about $35,000. US Bancorp DE raised its position in shares of Aurora Cannabis by 48.2% in the 1st quarter. US Bancorp DE now owns 8,918 shares of the company’s stock worth $83,000 after purchasing an additional 2,900 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of Aurora Cannabis in the 2nd quarter worth about $95,000. Finally, Cresset Asset Management LLC purchased a new position in shares of Aurora Cannabis in the 2nd quarter worth about $99,000. 17.15% of the stock is owned by institutional investors and hedge funds.
About Aurora Cannabis
Aurora Cannabis, Inc engages in the production, distribution and sale of cannabis products. It also produces and sells indoor cultivation systems and hemp related food products. The company was founded by Terry Booth and Steve Dobler on December 21, 2006 and is headquartered in Calgary, Canada.
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