Aurora Cannabis (NYSE:ACB) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Aurora Cannabis (NYSE:ACB) in a research report released on Tuesday, AnalystRatings.com reports.

Other analysts have also issued reports about the stock. Pi Financial restated a neutral rating on shares of Aurora Cannabis in a report on Friday, May 15th. Jefferies Financial Group lowered shares of Aurora Cannabis from a hold rating to an underperform rating and boosted their price target for the stock from $12.00 to $14.00 in a research note on Friday, May 22nd. Desjardins upgraded shares of Aurora Cannabis to a buy rating in a research note on Friday, May 15th. Zacks Investment Research lowered shares of Aurora Cannabis from a buy rating to a hold rating in a research note on Monday, August 3rd. Finally, Eight Capital reiterated a hold rating and set a $11.00 price target on shares of Aurora Cannabis in a research note on Tuesday, May 12th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $16.94.

Shares of ACB opened at $6.98 on Tuesday. The firm has a market cap of $883.10 million, a P/E ratio of -0.60 and a beta of 1.59. Aurora Cannabis has a 12-month low of $5.30 and a 12-month high of $72.48. The company’s 50-day moving average price is $9.80 and its 200 day moving average price is $11.24. The company has a current ratio of 3.17, a quick ratio of 1.80 and a debt-to-equity ratio of 0.14.

A number of institutional investors and hedge funds have recently made changes to their positions in ACB. IHT Wealth Management LLC boosted its holdings in Aurora Cannabis by 36.2% in the first quarter. IHT Wealth Management LLC now owns 29,705 shares of the company’s stock valued at $27,000 after purchasing an additional 7,900 shares in the last quarter. Captrust Financial Advisors acquired a new position in Aurora Cannabis in the second quarter valued at approximately $28,000. Sunbelt Securities Inc. acquired a new position in Aurora Cannabis in the first quarter valued at approximately $38,000. Paloma Partners Management Co acquired a new position in Aurora Cannabis in the first quarter valued at approximately $40,000. Finally, Private Portfolio Partners LLC boosted its holdings in Aurora Cannabis by 111.4% in the first quarter. Private Portfolio Partners LLC now owns 46,330 shares of the company’s stock valued at $42,000 after purchasing an additional 24,415 shares in the last quarter. 11.49% of the stock is owned by hedge funds and other institutional investors.

Aurora Cannabis Company Profile

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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