Aphria (APHA) Shares Gap Down to $6.76

Aphria Inc (NYSE:APHA)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $6.50, but opened at $6.76. Aphria shares last traded at $6.97, with a volume of 139177 shares traded.

A number of brokerages have commented on APHA. Clarus Securities began coverage on shares of Aphria in a research note on Tuesday, April 16th. They issued a “buy” rating and a $22.75 target price on the stock. CIBC initiated coverage on shares of Aphria in a research note on Friday, January 18th. They set a “neutral” rating on the stock. Zacks Investment Research downgraded shares of Aphria from a “hold” rating to a “sell” rating in a research note on Friday, April 19th. Seaport Global Securities initiated coverage on shares of Aphria in a research note on Thursday, February 21st. They set a “buy” rating and a $18.00 price objective on the stock. Finally, ValuEngine upgraded shares of Aphria from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $15.69.

The company has a market cap of $1.72 billion, a PE ratio of 49.64 and a beta of 3.66.



Aphria (NYSE:APHA) last released its quarterly earnings data on Monday, April 15th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.11). The firm had revenue of $55.24 million for the quarter, compared to analysts’ expectations of $41.11 million.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. ETF Managers Group LLC acquired a new stake in Aphria in the fourth quarter valued at approximately $15,389,000. Norges Bank purchased a new position in shares of Aphria in the fourth quarter worth $10,301,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Aphria by 1,307.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,057,811 shares of the company’s stock worth $9,866,000 after buying an additional 982,671 shares during the last quarter. TD Asset Management Inc. purchased a new position in shares of Aphria in the fourth quarter worth $4,073,000. Finally, Swiss National Bank raised its holdings in shares of Aphria by 9.9% in the first quarter. Swiss National Bank now owns 412,400 shares of the company’s stock worth $3,846,000 after buying an additional 37,200 shares during the last quarter. Institutional investors own 10.71% of the company’s stock.

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About Aphria (NYSE:APHA)

Aphria Inc produces and sells medical cannabis in Canada and internationally. The company offers sativa, indica, and hybrid medical marijuana products, as well as cannabis oils. It serves patients and health professionals. The company also sells its products online. Aphria Inc is headquartered in Leamington, Canada.

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