Shares of Aphria Inc (NYSE:APHA) rose 5.5% on Tuesday . The company traded as high as $6.96 and last traded at $6.92, approximately 4,539,074 shares changed hands during trading. A decline of 19% from the average daily volume of 5,601,579 shares. The stock had previously closed at $6.56.

APHA has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Aphria from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Wednesday, August 7th. Jefferies Financial Group began coverage on Aphria in a research report on Friday, May 24th. They issued a “buy” rating and a $11.00 price target on the stock. Clarus Securities began coverage on Aphria in a research report on Tuesday, April 16th. They issued a “buy” rating and a $22.75 price target on the stock. ValuEngine raised Aphria from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, CIBC cut Aphria from a “neutral” rating to a “sector underperform” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $13.63.

The company has a 50-day moving average of $6.49. The company has a market capitalization of $1.65 billion, a PE ratio of -62.91 and a beta of 3.07.

Aphria (NYSE:APHA) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.10. The company had revenue of $128.60 million during the quarter, compared to the consensus estimate of $99.26 million. Aphria’s quarterly revenue was up 971.7% on a year-over-year basis. On average, analysts forecast that Aphria Inc will post 0.06 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC lifted its position in Aphria by 45.3% in the 1st quarter. Advisory Services Network LLC now owns 5,625 shares of the company’s stock valued at $52,000 after acquiring an additional 1,755 shares in the last quarter. Synovus Financial Corp lifted its position in Aphria by 56.9% in the 2nd quarter. Synovus Financial Corp now owns 5,514 shares of the company’s stock valued at $39,000 after acquiring an additional 2,000 shares in the last quarter. Shell Asset Management Co. lifted its position in Aphria by 17.9% in the 1st quarter. Shell Asset Management Co. now owns 17,723 shares of the company’s stock valued at $165,000 after acquiring an additional 2,687 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Aphria by 76.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,248 shares of the company’s stock valued at $44,000 after acquiring an additional 2,698 shares in the last quarter. Finally, Creative Planning lifted its position in Aphria by 6.4% in the 1st quarter. Creative Planning now owns 72,342 shares of the company’s stock valued at $674,000 after acquiring an additional 4,351 shares in the last quarter. 8.58% of the stock is currently owned by institutional investors and hedge funds.

Aphria Company Profile (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.

Read More: Limitations to arbitrage trading

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