Aurora Cannabis (NYSE:ACB) Price Target Cut to $3.00

Aurora Cannabis (NYSE:ACBGet Rating) had its price target cut by analysts at Piper Sandler from $4.00 to $3.00 in a research note issued to investors on Wednesday, The Fly reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target indicates a potential upside of 145.90% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Cantor Fitzgerald raised shares of Aurora Cannabis from a “neutral” rating to an “overweight” rating in a report on Friday, June 24th. Stifel Nicolaus upgraded shares of Aurora Cannabis from a “sell” rating to a “hold” rating and set a $2.15 price target on the stock in a research report on Monday, June 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $4.30.

Aurora Cannabis Price Performance

ACB opened at $1.22 on Wednesday. The company has a fifty day moving average price of $1.52 and a two-hundred day moving average price of $2.22. The company has a debt-to-equity ratio of 0.32, a quick ratio of 4.76 and a current ratio of 5.85. Aurora Cannabis has a 52 week low of $1.21 and a 52 week high of $8.69. The firm has a market capitalization of $276.69 million, a PE ratio of -0.20 and a beta of 2.64.

Hedge Funds Weigh In On Aurora Cannabis

A number of hedge funds have recently bought and sold shares of ACB. Renaissance Technologies LLC grew its holdings in Aurora Cannabis by 267.4% in the second quarter. Renaissance Technologies LLC now owns 3,220,384 shares of the company’s stock worth $4,251,000 after purchasing an additional 2,343,884 shares during the period. MMCAP International Inc. SPC bought a new stake in Aurora Cannabis in the second quarter worth about $735,000. Goldman Sachs Group Inc. raised its position in Aurora Cannabis by 283.9% in the second quarter. Goldman Sachs Group Inc. now owns 608,452 shares of the company’s stock worth $803,000 after acquiring an additional 449,969 shares during the period. Merlin Capital LLC bought a new stake in shares of Aurora Cannabis in the fourth quarter valued at approximately $2,110,000. Finally, JPMorgan Chase & Co. raised its position in shares of Aurora Cannabis by 89.3% in the second quarter. JPMorgan Chase & Co. now owns 702,785 shares of the company’s stock valued at $6,108,000 after purchasing an additional 331,516 shares during the period. Institutional investors own 29.53% of the company’s stock.

About Aurora Cannabis

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Aurora Cannabis Inc produces, distributes, and sells cannabis and cannabis derivative products in Canada and internationally. It also engages in facility engineering and design, cannabis breeding, research, production, derivatives, product development, wholesale, and retail distribution activities. The company produces various strains of dried cannabis, cannabis oil and capsules, and topical kits for medical patients.

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