Aurora Cannabis (NASDAQ:ACB) Stock Price Down 5.2% – Here’s Why

Aurora Cannabis Inc. (NASDAQ:ACB)’s share price was down 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 were traded during mid-day trading, a decline of 28% from the average daily volume of 875,832 shares. The stock had previously closed at $4.66.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. TD Cowen started 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 shares of Aurora Cannabis to a “strong-buy” rating in a research note on Thursday, December 12th.

Aurora Cannabis Price Performance

The firm has a market capitalization of $242.41 million, a P/E ratio of -5.82 and a beta of 1.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.88 and a current ratio of 3.83. The business has a 50 day simple moving average of $4.52 and a two-hundred day simple moving average of $5.34.

Institutional Trading of Aurora Cannabis

A number of hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC lifted its position in Aurora Cannabis by 2.7% in the 3rd quarter. Tidal Investments LLC now owns 1,344,321 shares of the company’s stock worth $7,905,000 after buying an additional 34,988 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Aurora Cannabis in the 2nd quarter worth approximately $50,000. Mackenzie Financial Corp purchased a new stake in shares of Aurora Cannabis in the 2nd quarter valued at $113,000. Toronto Dominion Bank boosted its stake 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 purchasing an additional 18,896 shares in the last quarter. Finally, Headlands Technologies LLC grew its holdings in shares of Aurora Cannabis by 98.8% during the 2nd quarter. Headlands Technologies LLC now owns 74,988 shares of the company’s stock valued at $346,000 after purchasing an additional 37,269 shares during the last quarter. 47.63% of the stock is owned by institutional investors.

About Aurora Cannabis

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.