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

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Shares of Aurora Cannabis Inc. (NYSE:ACB) gapped down prior to trading on Friday after Cantor Fitzgerald lowered their price target on the stock from C$10.75 to C$7.60. The stock had previously closed at $4.59, but opened at $4.44. Aurora Cannabis shares last traded at $4.44, with a volume of 275,895 shares traded.

Several other research firms have also issued reports on ACB. decreased their target price on Aurora Cannabis from C$6.50 to C$6.00 and set a “sell” rating for the company in a research report on Thursday, November 11th. CIBC decreased their target price on Aurora Cannabis from C$9.25 to C$6.50 in a research report on Thursday, February 3rd. Finally, Zacks Investment Research upgraded Aurora Cannabis from a “sell” rating to a “hold” rating in a research report on Monday, January 31st. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, Aurora Cannabis currently has an average rating of “Hold” and a consensus price target of $6.98.

Large investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in shares of Aurora Cannabis during the 2nd quarter valued at about $35,000. Citigroup Inc. boosted its position in Aurora Cannabis by 684.4% during the 3rd quarter. Citigroup Inc. now owns 6,048 shares of the company’s stock worth $42,000 after acquiring an additional 5,277 shares during the last quarter. Horan Securities Inc. bought a new position in shares of Aurora Cannabis during the 4th quarter worth approximately $54,000. PFG Advisors acquired a new stake in shares of Aurora Cannabis in the fourth quarter valued at approximately $56,000. Finally, Spire Wealth Management lifted its position in shares of Aurora Cannabis by 73.0% in the fourth quarter. Spire Wealth Management now owns 10,384 shares of the company’s stock worth $56,000 after purchasing an additional 4,382 shares in the last quarter. Institutional investors and hedge funds own 17.24% of the company’s stock.

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The company has a current ratio of 5.42, a quick ratio of 4.13 and a debt-to-equity ratio of 0.18. The firm’s 50 day simple moving average is $5.28 and its 200-day simple moving average is $6.39. The stock has a market capitalization of $895.56 million, a price-to-earnings ratio of -1.70 and a beta of 2.93.

Aurora Cannabis (NYSE:ACB) last issued its quarterly earnings results on Tuesday, November 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.09. Aurora Cannabis had a negative net margin of 252.40% and a negative return on equity of 9.09%. The firm had revenue of $47.74 million for the quarter, compared to analyst estimates of $47.84 million. As a group, equities research analysts predict that Aurora Cannabis Inc. will post -0.61 earnings per share for the current year.

About Aurora Cannabis (NYSE:ACB)

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 Edmonton, Canada.

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