Aurora Cannabis Inc. (NASDAQ:ACB - Get Free Report)'s share price dropped 5.2% during mid-day trading on Thursday . The company traded as low as $4.33 and last traded at $4.42. Approximately 632,491 shares changed hands during trading, a decline of 28% from the average daily volume of 875,832 shares. The stock had previously closed at $4.66.
Wall Street Analysts Forecast Growth
ACB has been the subject of several recent research reports. TD Cowen initiated coverage on shares of Aurora Cannabis in a research report on Wednesday, December 11th. They issued a "buy" rating for the company. TD Securities upgraded Aurora Cannabis to a "strong-buy" rating in a report on Thursday, December 12th.
Check Out Our Latest Report on ACB
Aurora Cannabis Stock Performance
The stock has a 50-day moving average price of $4.52 and a 200 day moving average price of $5.34. The company has a quick ratio of 1.88, a current ratio of 3.83 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $226.50 million, a price-to-earnings ratio of -5.43 and a beta of 1.86.
Hedge Funds Weigh In On Aurora Cannabis
A number of institutional investors and hedge funds have recently modified their holdings of ACB. Cubist Systematic Strategies LLC acquired a new position in Aurora Cannabis in the second quarter valued at approximately $50,000. Toronto Dominion Bank boosted its holdings in shares of Aurora Cannabis by 34,356.4% in the 2nd quarter. Toronto Dominion Bank now owns 18,951 shares of the company's stock valued at $88,000 after buying an additional 18,896 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Aurora Cannabis in the 2nd quarter valued at $113,000. TD Asset Management Inc purchased a new position in shares of Aurora Cannabis in the 2nd quarter valued at $255,000. Finally, Headlands Technologies LLC raised its stake in Aurora Cannabis by 98.8% during the 2nd quarter. Headlands Technologies LLC now owns 74,988 shares of the company's stock worth $346,000 after acquiring an additional 37,269 shares in the last quarter. Institutional investors and hedge funds own 47.63% of the company's stock.
About Aurora Cannabis
(
Get Free Report)
Aurora Cannabis Inc, together with its subsidiaries, produces, distributes, and sells cannabis and cannabis-derivative products in Canada and internationally. It operates through three segments: Canadian Cannabis, European Cannabis, and Plant Propagation. The company produces, distributes, and sells medical and consumer cannabis products in Canada.
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