J. L. Bainbridge & Co. Inc. acquired a new stake in Aurora Cannabis Inc (NYSE:ACB) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 14,399 shares of the company’s stock, valued at approximately $113,000.
A number of other institutional investors also recently added to or reduced their stakes in ACB. Norges Bank acquired a new position in Aurora Cannabis in the 4th quarter valued at approximately $30,915,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Aurora Cannabis by 158.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,302,496 shares of the company’s stock valued at $20,837,000 after buying an additional 1,410,446 shares during the period. Bank of America Corp DE acquired a new position in Aurora Cannabis in the 4th quarter valued at approximately $6,021,000. Deutsche Bank AG acquired a new position in Aurora Cannabis in the 4th quarter valued at approximately $3,105,000. Finally, Legal & General Group Plc acquired a new position in Aurora Cannabis in the 4th quarter valued at approximately $2,847,000. Hedge funds and other institutional investors own 9.04% of the company’s stock.
Several research firms have weighed in on ACB. Bank of America lowered shares of Aurora Cannabis from a “buy” rating to a “neutral” rating and set a $7.30 price objective on the stock. in a research note on Thursday, July 18th. Zacks Investment Research upgraded shares of Aurora Cannabis from a “hold” rating to a “buy” rating and set a $7.50 price objective on the stock in a research note on Thursday. Stifel Nicolaus began coverage on shares of Aurora Cannabis in a research note on Wednesday, June 5th. They issued a “hold” rating on the stock. Desjardins began coverage on shares of Aurora Cannabis in a research note on Thursday, April 25th. They issued a “buy” rating and a $9.07 price objective on the stock. Finally, ValuEngine lowered shares of Aurora Cannabis from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $8.47.
Shares of ACB traded down $0.15 during mid-day trading on Monday, hitting $6.39. 157,100 shares of the company’s stock were exchanged, compared to its average volume of 15,240,448. The firm’s fifty day simple moving average is $6.99. Aurora Cannabis Inc has a twelve month low of $4.05 and a twelve month high of $12.52. The firm has a market capitalization of $6.49 billion, a PE ratio of 53.29 and a beta of 2.44. The company has a current ratio of 2.37, a quick ratio of 1.98 and a debt-to-equity ratio of 0.10.
Aurora Cannabis (NYSE:ACB) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.05). Aurora Cannabis had a positive return on equity of 1.24% and a negative net margin of 122.65%. The business had revenue of $49.00 million for the quarter, compared to analyst estimates of $50.92 million. As a group, equities research analysts forecast that Aurora Cannabis Inc will post -0.23 EPS for the current year.
Aurora Cannabis Profile
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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