Brokerages Set Aurora Cannabis Inc (NYSE:ACB) PT at $29.00

Aurora Cannabis Inc (NYSE:ACB) has earned a consensus recommendation of “Hold” from the nineteen research firms that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $25.88.

A number of equities analysts have recently commented on ACB shares. Piper Sandler raised shares of Aurora Cannabis from an “underweight” rating to a “neutral” rating and reduced their target price for the stock from $12.00 to $10.00 in a research report on Friday, May 15th. Cantor Fitzgerald lifted their price objective on shares of Aurora Cannabis from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Desjardins raised shares of Aurora Cannabis to a “buy” rating in a report on Friday, May 15th. Jefferies Financial Group downgraded shares of Aurora Cannabis from a “hold” rating to an “underperform” rating and raised their target price for the company from $12.00 to $14.00 in a research note on Friday, May 22nd. Finally, Stifel Nicolaus upgraded shares of Aurora Cannabis from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $6.20 to $17.50 in a research note on Wednesday, June 24th.

Aurora Cannabis stock traded down $0.11 during midday trading on Monday, reaching $12.36. The stock had a trading volume of 2,836,461 shares, compared to its average volume of 6,509,250. The company has a quick ratio of 1.80, a current ratio of 3.17 and a debt-to-equity ratio of 0.14. Aurora Cannabis has a 52-week low of $5.30 and a 52-week high of $95.76. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -1.07 and a beta of 1.78. The company has a fifty day moving average of $12.71 and a 200 day moving average of $16.36.

Aurora Cannabis (NYSE:ACB) last issued its earnings results on Thursday, May 14th. The company reported ($0.74) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.21). The company had revenue of $56.31 million for the quarter, compared to analysts’ expectations of $46.93 million. Aurora Cannabis had a negative return on equity of 8.55% and a negative net margin of 442.62%. Equities research analysts predict that Aurora Cannabis will post -10.04 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. ETF Managers Group LLC increased its stake in shares of Aurora Cannabis by 54.6% during the first quarter. ETF Managers Group LLC now owns 27,224,515 shares of the company’s stock worth $24,663,000 after purchasing an additional 9,618,356 shares in the last quarter. Swiss National Bank increased its stake in shares of Aurora Cannabis by 70.4% during the first quarter. Swiss National Bank now owns 4,273,265 shares of the company’s stock worth $3,758,000 after purchasing an additional 1,765,400 shares in the last quarter. Public Sector Pension Investment Board increased its stake in shares of Aurora Cannabis by 21.6% during the first quarter. Public Sector Pension Investment Board now owns 3,502,415 shares of the company’s stock worth $3,100,000 after purchasing an additional 622,515 shares in the last quarter. Morgan Stanley increased its stake in shares of Aurora Cannabis by 13.1% during the first quarter. Morgan Stanley now owns 3,337,403 shares of the company’s stock worth $3,024,000 after purchasing an additional 385,432 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Aurora Cannabis by 12.3% during the first quarter. JPMorgan Chase & Co. now owns 2,979,402 shares of the company’s stock worth $2,699,000 after purchasing an additional 326,578 shares in the last quarter.

About Aurora Cannabis

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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Analyst Recommendations for Aurora Cannabis (NYSE:ACB)

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