Aurora Cannabis (NASDAQ:ACB) Upgraded by Canaccord Genuity Group to “Buy”

Canaccord Genuity Group upgraded shares of Aurora Cannabis (NASDAQ:ACBFree Report) from a hold rating to a buy rating in a research report released on Friday morning, Marketbeat reports.

Aurora Cannabis Stock Down 7.9 %

ACB opened at $0.40 on Friday. The business has a 50 day simple moving average of $0.45 and a 200-day simple moving average of $0.51. The stock has a market capitalization of $190.36 million, a P/E ratio of -1.38 and a beta of 2.38. Aurora Cannabis has a 12 month low of $0.37 and a 12 month high of $1.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.79 and a quick ratio of 2.45.

Hedge Funds Weigh In On Aurora Cannabis

Hedge funds have recently bought and sold shares of the business. Advisor Group Holdings Inc. increased its position in shares of Aurora Cannabis by 9.7% during the first quarter. Advisor Group Holdings Inc. now owns 61,873 shares of the company’s stock worth $309,000 after acquiring an additional 5,488 shares in the last quarter. Royal Bank of Canada increased its holdings in Aurora Cannabis by 9.5% in the 3rd quarter. Royal Bank of Canada now owns 115,794 shares of the company’s stock valued at $141,000 after buying an additional 10,000 shares during the period. Squarepoint Ops LLC increased its holdings in Aurora Cannabis by 45.0% in the 4th quarter. Squarepoint Ops LLC now owns 37,699 shares of the company’s stock valued at $35,000 after buying an additional 11,700 shares during the period. Citigroup Inc. boosted its stake in shares of Aurora Cannabis by 566.4% in the 1st quarter. Citigroup Inc. now owns 14,334 shares of the company’s stock valued at $57,000 after purchasing an additional 12,183 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new stake in Aurora Cannabis during the 1st quarter worth approximately $50,000. 11.17% of the stock is owned by institutional investors and hedge funds.

Aurora Cannabis Company Profile

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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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