Aurora Cannabis (NYSE:ACB) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Aurora Cannabis (NYSE:ACB) from a hold rating to a sell rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Aurora Cannabis Inc is a Canada-based company engaged in the production and distribution of medical cannabis. The Company is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis and hemp production, derivatives, home cultivation, wholesale and retail distribution. The Company’s purpose-built facilities, which integrate technologies across all processes, are defined by automation and customization. The Company has a funded capacity of more than 500,000 kilograms per year, as well as sales and operations in 24 countries across 5 continents. “

Several other equities research analysts have also recently weighed in on the company. MKM Partners upgraded Aurora Cannabis from a sell rating to a neutral rating and upped their target price for the stock from $6.00 to $7.00 in a research note on Tuesday, September 28th. Jefferies Financial Group restated a hold rating on shares of Aurora Cannabis in a research note on Friday, October 1st. Cantor Fitzgerald cut their target price on Aurora Cannabis from C$12.00 to C$8.30 and set a neutral rating for the company in a research note on Friday, September 17th. Needham & Company LLC reiterated a sell rating on shares of Aurora Cannabis in a report on Tuesday, September 28th. Finally, CIBC upgraded shares of Aurora Cannabis from an underperform rating to a neutral rating in a report on Wednesday, November 10th. Five equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $7.08.

Shares of ACB stock opened at $5.51 on Tuesday. 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 stock has a 50 day simple moving average of $6.31 and a 200 day simple moving average of $6.87. Aurora Cannabis has a 1 year low of $5.22 and a 1 year high of $18.98.

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. The business had revenue of $47.74 million during the quarter, compared to analysts’ expectations of $47.84 million. Aurora Cannabis had a negative return on equity of 9.09% and a negative net margin of 252.40%. On average, equities research analysts expect that Aurora Cannabis will post -0.61 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Aurora Cannabis by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 294,825 shares of the company’s stock valued at $2,039,000 after acquiring an additional 1,660 shares in the last quarter. Credit Suisse AG lifted its position in Aurora Cannabis by 0.7% in the 3rd quarter. Credit Suisse AG now owns 237,960 shares of the company’s stock valued at $1,646,000 after acquiring an additional 1,722 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in Aurora Cannabis by 2.9% in the 3rd quarter. Advisor Group Holdings Inc. now owns 60,912 shares of the company’s stock valued at $423,000 after acquiring an additional 1,732 shares in the last quarter. Aurora Private Wealth Inc. lifted its position in Aurora Cannabis by 19.2% in the 3rd quarter. Aurora Private Wealth Inc. now owns 11,918 shares of the company’s stock valued at $82,000 after acquiring an additional 1,917 shares in the last quarter. Finally, Private Advisor Group LLC lifted its position in Aurora Cannabis by 10.4% in the 3rd quarter. Private Advisor Group LLC now owns 22,029 shares of the company’s stock valued at $152,000 after acquiring an additional 2,079 shares in the last quarter. 17.24% of the stock is currently owned by institutional investors.

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 Edmonton, Canada.

Recommended Story: Special Purpose Acquisition Company (SPAC)

Get a free copy of the Zacks research report on Aurora Cannabis (ACB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Aurora Cannabis (NYSE:ACB)

Receive News & Ratings for Aurora Cannabis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aurora Cannabis and related companies with MarketBeat.com's FREE daily email newsletter.