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

Shares of Aurora Cannabis Inc. (NASDAQ:ACB) dropped 5.2% 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.

Analyst Ratings Changes

A number of equities research analysts have commented on ACB shares. TD Cowen started coverage on Aurora Cannabis in a research report on Wednesday, December 11th. They set a “buy” rating for the company. TD Securities raised shares of Aurora Cannabis to a “strong-buy” rating in a research report on Thursday, December 12th.

Aurora Cannabis Price Performance

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 stock’s 50 day moving average price is $4.52 and its two-hundred day moving average price is $5.34. The firm has a market capitalization of $242.41 million, a price-to-earnings ratio of -5.82 and a beta of 1.86.

Hedge Funds Weigh In On Aurora Cannabis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC bought a new stake in Aurora Cannabis in the second quarter worth approximately $50,000. Toronto Dominion Bank boosted its holdings in Aurora Cannabis by 34,356.4% in the second quarter. Toronto Dominion Bank now owns 18,951 shares of the company’s stock worth $88,000 after purchasing an additional 18,896 shares in the last quarter. Mackenzie Financial Corp acquired a new position in Aurora Cannabis during the second quarter worth $113,000. TD Asset Management Inc bought a new position in Aurora Cannabis during the second quarter valued at about $255,000. Finally, Headlands Technologies LLC lifted its position in shares of Aurora Cannabis by 98.8% in the second quarter. Headlands Technologies LLC now owns 74,988 shares of the company’s stock worth $346,000 after buying an additional 37,269 shares during the last quarter. Institutional investors own 47.63% of the company’s stock.

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.