Aphria (NYSE:APHA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Aphria Inc. produces, supplies and sells medical cannabis primarily in Canada. The company offers sativa, indica and hybrid medical marijuana products, as well as cannabis oils. Aphria Inc. is headquartered in Leamington, Canada. “

Other analysts have also issued research reports about the stock. ValuEngine upgraded shares of Aphria from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Jefferies Financial Group assumed coverage on shares of Aphria in a research note on Friday, May 24th. They set a “buy” rating and a $11.00 price target for the company. Finally, CIBC lowered shares of Aphria from a “neutral” rating to a “sector underperform” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Aphria has an average rating of “Buy” and a consensus price target of $13.63.

APHA stock traded down $0.08 during midday trading on Thursday, reaching $6.50. 94,011 shares of the company’s stock traded hands, compared to its average volume of 7,281,815. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -59.09 and a beta of 3.07. The firm’s fifty day moving average price is $6.37 and its 200-day moving average price is $7.89. Aphria has a 52 week low of $3.75 and a 52 week high of $16.86.

Aphria (NYSE:APHA) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.10. The business had revenue of $128.60 million for the quarter, compared to the consensus estimate of $99.26 million. The business’s revenue was up 971.7% on a year-over-year basis. On average, equities research analysts anticipate that Aphria will post 0.06 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE bought a new stake in shares of Aphria in the 4th quarter worth $2,175,000. Two Sigma Advisers LP purchased a new position in shares of Aphria in the 4th quarter worth about $129,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Aphria by 1,307.8% in the 1st 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. Exane Derivatives boosted its holdings in shares of Aphria by 333.7% in the 2nd quarter. Exane Derivatives now owns 103,130 shares of the company’s stock worth $723,000 after buying an additional 79,350 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Aphria in the 4th quarter worth about $10,301,000. Hedge funds and other institutional investors own 8.46% of the company’s stock.

Aphria Company Profile

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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