Aurora Cannabis (NYSE:ACB) Sees Strong Trading Volume

Aurora Cannabis Inc. (NYSE:ACB) shares saw unusually-strong trading volume on Wednesday . Approximately 154,134 shares changed hands during mid-day trading, a decline of 96% from the previous session’s volume of 4,112,655 shares.The stock last traded at $6.09 and had previously closed at $6.03.

ACB has been the subject of several recent analyst reports. Jefferies Financial Group raised Aurora Cannabis from an “underperform” rating to a “hold” rating and cut their target price for the stock from $7.49 to $6.78 in a research note on Friday, September 3rd. CIBC decreased their target price on shares of Aurora Cannabis from C$8.00 to C$7.00 and set an “underperform” rating on the stock in a research report on Thursday. Zacks Investment Research lowered shares of Aurora Cannabis from a “hold” rating to a “sell” rating in a research note on Wednesday, September 8th. Cantor Fitzgerald reduced their price target on shares of Aurora Cannabis from C$12.00 to C$8.30 and set a “neutral” rating on the stock in a research note on Friday, September 17th. Finally, Atb Cap Markets reiterated an “underperform” rating on shares of Aurora Cannabis in a report on Friday, July 23rd. Eight investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Aurora Cannabis presently has an average rating of “Sell” and a consensus price target of $6.78.

The company has a debt-to-equity ratio of 0.19, a current ratio of 5.88 and a quick ratio of 4.95. The company has a market cap of $1.22 billion, a PE ratio of -0.42 and a beta of 3.17. The business’s 50 day moving average is $6.95 and its 200-day moving average is $8.19.

Several institutional investors have recently added to or reduced their stakes in the company. Glassman Wealth Services increased its holdings in Aurora Cannabis by 107.2% in the second quarter. Glassman Wealth Services now owns 3,866 shares of the company’s stock valued at $35,000 after buying an additional 2,000 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Aurora Cannabis during the 2nd quarter worth about $35,000. US Bancorp DE boosted its position in shares of Aurora Cannabis by 48.2% during the 1st quarter. US Bancorp DE now owns 8,918 shares of the company’s stock worth $83,000 after acquiring an additional 2,900 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Aurora Cannabis in the 2nd quarter valued at about $95,000. Finally, Cresset Asset Management LLC acquired a new stake in shares of Aurora Cannabis during the 2nd quarter worth about $99,000. 17.15% of the stock is owned by institutional investors and hedge funds.

Aurora Cannabis Company Profile (NYSE:ACB)

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 Calgary, Canada.

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