CIBC started coverage on Aurora Cannabis in a research report on Tuesday, September 24th. The company's 50 day moving average price is $3.86 and its two-hundred day moving average price is $6.25. Desjardins dropped their price target on shares of Aurora Cannabis from C$16.50 to C$14.00 and set a "buy" rating on the stock in a research report on Friday, September 13th.
Several executives and stock analysts say they still see a bright future for the sector in the long term, but they admit the Canadian market hasn't grown as much as expected since recreational pot became legal a year ago. Jefferies Financial Group lowered their price objective on Aurora Cannabis from C$14.00 to C$7.00 in a report on Friday, October 11th.
Revenue in the fiscal second quarter landed at C$76.6 million, down from the C$90.5 million reported in the previous quarter.
Aurora Cannabis (NYSE:ACB) last posted its quarterly earnings results on Thursday, November 14th. The company has a quick ratio of 1.14, a current ratio of 1.52 and a debt-to-equity ratio of 0.09.
It says net revenue was $75.3 million for its first quarter of fiscal 2020, up from $29.7 million for the same quarter a year ago, but down from the $94.6 million in the fourth quarter ended in June. The company's stock had a trading volume of 56,889,570 shares, compared to its average volume of 12,550,145. The firm has a market capitalization of $4.45 billion and a price-to-earnings ratio of -13.24. Compass Point set a $8.00 target price on Aurora Cannabis and gave the company a "hold" rating in a report on Thursday, September 12th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.04. Cantor Fitzgerald raised shares of Aurora Cannabis from a "neutral" rating to an "overweight" rating in a research report on Friday. The stock presently has an average rating of "Hold" and a consensus target price of C$11.00.
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Battley touted a number of bright spots in the quarter, including the company's steady 58 per cent gross margin, reducing cash cost to produce 25 per cent to $0.85 per gram, and a three per cent gain on net selling price to consumers to $5.28 per gram.
Large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC grew its holdings in Aurora Cannabis by 98.2% during the 2nd quarter. Renaissance Technologies LLC increased its position in shares of Aurora Cannabis by 114.8% during the second quarter. Janney Montgomery Scott LLC now owns 31,147 shares of the company's stock valued at $244,000 after purchasing an additional 1,773 shares during the period. Janus Henderson Group PLC now owns 727,520 shares of the company's stock worth $5,711,000 after acquiring an additional 360,390 shares during the period. Finally, North Star Investment Management Corp. lifted its stake in Aurora Cannabis by 22.4% in the second quarter.
Aurora Cannabis (ACB.TO)(ACB) has announced plans to shore up its balance sheet that include halting construction plans at facilities in Alberta and Denmark, and settling a convertible debenture due in March.
"While some provinces are making considerable progress in offering adults a safer alternative to the illegal market, others still have work to do establish their wholesale and retail distribution systems and better protect Canadians", said Marie-Emmanuelle Cadieux, in an email.