Investors Buy Aurora Cannabis (ACB) on Weakness
Investors bought shares of Aurora Cannabis Inc (NYSE:ACB) on weakness during trading on Thursday. $131.48 million flowed into the stock on the tick-up and $92.16 million flowed out of the stock on the tick-down, for a money net flow of $39.32 million into the stock. Of all stocks tracked, Aurora Cannabis had the 22nd highest net in-flow for the day. Aurora Cannabis traded down ($0.08) for the day and closed at $8.99
ACB has been the subject of a number of research analyst reports. Seaport Global Securities initiated coverage on Aurora Cannabis in a report on Thursday, February 21st. They issued a “neutral” rating for the company. GMP Securities reaffirmed a “hold” rating and issued a $9.50 price target on shares of Aurora Cannabis in a report on Tuesday, February 12th. Cowen initiated coverage on Aurora Cannabis in a report on Tuesday, March 5th. They issued an “outperform” rating for the company. Jefferies Financial Group initiated coverage on Aurora Cannabis in a report on Monday, February 25th. They issued a “buy” rating for the company. Finally, TheStreet downgraded Aurora Cannabis from a “c” rating to a “d+” rating in a report on Monday, February 25th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $9.50.
The company has a quick ratio of 2.50, a current ratio of 3.31 and a debt-to-equity ratio of 0.08. The firm has a market cap of $8.06 billion, a PE ratio of 74.92 and a beta of 2.90.
Institutional investors and hedge funds have recently made changes to their positions in the stock. ETF Managers Group LLC acquired a new stake in shares of Aurora Cannabis in the fourth quarter valued at approximately $40,454,000. Norges Bank acquired a new stake in shares of Aurora Cannabis in the fourth quarter valued at approximately $30,915,000. TD Asset Management Inc. acquired a new stake in shares of Aurora Cannabis in the fourth quarter valued at approximately $16,657,000. JW Asset Management LLC acquired a new stake in shares of Aurora Cannabis in the fourth quarter valued at approximately $10,734,000. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of Aurora Cannabis in the fourth quarter valued at approximately $10,504,000. 8.16% of the stock is owned by hedge funds and other institutional investors.
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Aurora Cannabis Company Profile (NYSE:ACB)
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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