BNP Paribas Arbitrage SA Purchases Shares of 31800 Aurora Cannabis Inc (NYSE:ACB)

BNP Paribas Arbitrage SA purchased a new stake in Aurora Cannabis Inc (NYSE:ACB) during the 2nd quarter, according to its most recent disclosure …

Aurora Cannabis logoBNP Paribas Arbitrage SA purchased a new stake in Aurora Cannabis Inc (NYSE:ACB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,800 shares of the company’s stock, valued at approximately $249,000.

A number of other large investors have also bought and sold shares of the business. Janney Montgomery Scott LLC raised its holdings in Aurora Cannabis by 6.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 31,147 shares of the company’s stock valued at $244,000 after acquiring an additional 1,773 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Aurora Cannabis by 15.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,714,926 shares of the company’s stock valued at $21,275,000 after acquiring an additional 357,679 shares during the last quarter. Regal Investment Advisors LLC raised its holdings in Aurora Cannabis by 25.1% in the 2nd quarter. Regal Investment Advisors LLC now owns 44,810 shares of the company’s stock valued at $350,000 after acquiring an additional 8,999 shares during the last quarter. Traynor Capital Management Inc. raised its holdings in Aurora Cannabis by 49.6% in the 2nd quarter. Traynor Capital Management Inc. now owns 18,694 shares of the company’s stock valued at $146,000 after acquiring an additional 6,196 shares during the last quarter. Finally, Brookstone Capital Management raised its holdings in Aurora Cannabis by 45.0% in the 2nd quarter. Brookstone Capital Management now owns 14,715 shares of the company’s stock valued at $115,000 after acquiring an additional 4,570 shares during the last quarter. 9.11% of the stock is currently owned by institutional investors.

Aurora Cannabis stock opened at $5.80 on Tuesday. The firm has a 50 day simple moving average of $6.46 and a 200-day simple moving average of $7.78. Aurora Cannabis Inc has a 1-year low of $4.58 and a 1-year high of $12.52. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.37 and a quick ratio of 1.98. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 48.33 and a beta of 2.44.

A number of analysts have commented on the stock. Compass Point assumed coverage on shares of Aurora Cannabis in a report on Monday, July 8th. They issued a “neutral” rating for the company. LADENBURG THALM/SH SH assumed coverage on shares of Aurora Cannabis in a report on Wednesday, July 17th. They issued a “buy” rating and a $9.00 price objective for the company. ValuEngine upgraded shares of Aurora Cannabis from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Piper Jaffray Companies assumed coverage on shares of Aurora Cannabis in a report on Monday, August 12th. They issued a “neutral” rating and a $7.00 price objective for the company. Finally, Stifel Nicolaus assumed coverage on shares of Aurora Cannabis in a report on Wednesday, June 5th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Aurora Cannabis currently has a consensus rating of “Hold” and a consensus price target of $8.23.

Aurora Cannabis Profile

Aurora Cannabis Inc produces and distributes medical cannabis products. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain, from facility engineering and design to cannabis breeding, genetics research, production, derivatives, high value-add product development, home cultivation, wholesale, and retail distribution.

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Institutional Ownership by Quarter for Aurora Cannabis (NYSE:ACB)

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BNP Paribas Arbitrage SA Takes Position in Aurora Cannabis Inc (NYSE:ACB)

BNP Paribas Arbitrage SA acquired a new stake in Aurora Cannabis Inc (NYSE:ACB) during the second quarter, Holdings Channel.com reports.

Aurora Cannabis logoBNP Paribas Arbitrage SA acquired a new stake in Aurora Cannabis Inc (NYSE:ACB) during the second quarter, Holdings Channel.com reports. The firm acquired 31,800 shares of the company’s stock, valued at approximately $249,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Aurora Cannabis by 15.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,714,926 shares of the company’s stock valued at $21,275,000 after purchasing an additional 357,679 shares in the last quarter. Swiss National Bank raised its holdings in shares of Aurora Cannabis by 5.9% in the 1st quarter. Swiss National Bank now owns 2,443,965 shares of the company’s stock valued at $22,117,000 after purchasing an additional 136,300 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Aurora Cannabis by 158.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,302,496 shares of the company’s stock valued at $20,837,000 after purchasing an additional 1,410,446 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Aurora Cannabis by 53.1% in the 1st quarter. CIBC Asset Management Inc now owns 832,620 shares of the company’s stock valued at $7,533,000 after purchasing an additional 288,939 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Aurora Cannabis by 12.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 658,062 shares of the company’s stock valued at $5,146,000 after purchasing an additional 74,101 shares in the last quarter. Institutional investors and hedge funds own 9.11% of the company’s stock.

Shares of NYSE:ACB opened at $5.80 on Tuesday. The company’s fifty day moving average price is $6.46 and its 200 day moving average price is $7.78. Aurora Cannabis Inc has a 12 month low of $4.58 and a 12 month high of $12.52. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.37 and a quick ratio of 1.98. The firm has a market capitalization of $5.89 billion, a P/E ratio of 48.33 and a beta of 2.44.

A number of equities research analysts have recently weighed in on the stock. Bank of America lowered shares of Aurora Cannabis from a “buy” rating to a “neutral” rating and set a $7.30 price objective on the stock. in a report on Thursday, July 18th. Zacks Investment Research lowered shares of Aurora Cannabis from a “buy” rating to a “sell” rating in a research note on Thursday, August 15th. ValuEngine upgraded shares of Aurora Cannabis from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. Compass Point began coverage on shares of Aurora Cannabis in a research note on Monday, July 8th. They set a “neutral” rating on the stock. Finally, LADENBURG THALM/SH SH began coverage on shares of Aurora Cannabis in a research note on Wednesday, July 17th. They set a “buy” rating and a $9.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Aurora Cannabis has an average rating of “Hold” and a consensus target price of $8.23.

Aurora Cannabis Company Profile

Aurora Cannabis Inc produces and distributes medical cannabis products. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain, from facility engineering and design to cannabis breeding, genetics research, production, derivatives, high value-add product development, home cultivation, wholesale, and retail distribution.

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Want to see what other hedge funds are holding ACB?Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aurora Cannabis Inc (NYSE:ACB).

Institutional Ownership by Quarter for Aurora Cannabis (NYSE:ACB)

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Stevens Capital Management LP Takes Position in Aurora Cannabis Inc (NYSE:ACB)

Stevens Capital Management LP acquired a new stake in Aurora Cannabis Inc (NYSE:ACB) in the second quarter, according to its most recent filing …

Aurora Cannabis logoStevens Capital Management LP acquired a new stake in Aurora Cannabis Inc (NYSE:ACB) in the second quarter, according to its most recent filing with the SEC. The fund acquired 30,496 shares of the company’s stock, valued at approximately $238,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. grew its position in Aurora Cannabis by 15.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,714,926 shares of the company’s stock valued at $21,275,000 after buying an additional 357,679 shares during the last quarter. Swiss National Bank increased its position in Aurora Cannabis by 5.9% during the 1st quarter. Swiss National Bank now owns 2,443,965 shares of the company’s stock worth $22,117,000 after purchasing an additional 136,300 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Aurora Cannabis by 158.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,302,496 shares of the company’s stock worth $20,837,000 after purchasing an additional 1,410,446 shares in the last quarter. CIBC Asset Management Inc increased its position in Aurora Cannabis by 53.1% during the 1st quarter. CIBC Asset Management Inc now owns 832,620 shares of the company’s stock worth $7,533,000 after purchasing an additional 288,939 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Aurora Cannabis by 98.2% in the 2nd quarter. Janus Henderson Group PLC now owns 727,520 shares of the company’s stock valued at $5,711,000 after buying an additional 360,390 shares during the period. Hedge funds and other institutional investors own 9.11% of the company’s stock.

ACB has been the subject of a number of research reports. Piper Jaffray Companies began coverage on Aurora Cannabis in a report on Monday, August 12th. They set a “neutral” rating and a $7.00 target price for the company. ValuEngine raised Aurora Cannabis from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Compass Point began coverage on Aurora Cannabis in a research report on Monday, July 8th. They set a “neutral” rating on the stock. LADENBURG THALM/SH SH began coverage on Aurora Cannabis in a research report on Wednesday, July 17th. They set a “buy” rating and a $9.00 price target on the stock. Finally, Bank of America lowered Aurora Cannabis from a “buy” rating to a “neutral” rating and set a $7.30 price target on the stock. in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $8.23.

Shares of ACB traded down $0.06 during trading on Tuesday, reaching $5.74. The company’s stock had a trading volume of 62,182 shares, compared to its average volume of 13,685,331. The company has a fifty day moving average of $6.46 and a two-hundred day moving average of $7.78. Aurora Cannabis Inc has a twelve month low of $4.58 and a twelve month high of $12.52. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 47.75 and a beta of 2.44. The company has a quick ratio of 1.98, a current ratio of 2.37 and a debt-to-equity ratio of 0.10.

Aurora Cannabis Company Profile

Aurora Cannabis Inc produces and distributes medical cannabis products. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain, from facility engineering and design to cannabis breeding, genetics research, production, derivatives, high value-add product development, home cultivation, wholesale, and retail distribution.

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Institutional Ownership by Quarter for Aurora Cannabis (NYSE:ACB)

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US Cannabis Stock Curaleaf Has Multiple Positive Catalysts That Make It a Long-Term Buy

Remember that Canopy Growth (CGC) had June quarter revenues of C$90.5 million and Aurora Cannabis (ACB) had preliminary sales of up to …

As U.S. multi-state operators (MSOs) await federal approval of cannabis, the companies will increasingly need creative ways to finance acquisitions and growth. Curaleaf (CURLF) just announced a creative financing deal that improves liquidity and adds the potential for more financing down the road. The stock is down nearly 50% to recent lows at $6 where investors will be rewarded with major catalysts ahead of federal approval and the listings on major stock exchanges.

Cash Needs

Investors need to remember that Curaleaf is on pace to be the largest U.S. MSO and possibly the largest cannabis company in the world by revenues. Beacon Securities had predicted that 2020 revenues would top $1.12 billion and 2021 revenues at $1.60 billion.

The company ended Q1 with a cash balance of $172.6 million. As with most MSOs, Curaleaf had a small EBITDA loss of $3.7 million so the company needs cash to fund current operations and capital expenditures.

In addition, the company has deals for both the Select brand and Grassroots that had original listed market valuations of $1.8 billion. The deals have the following transaction terms:

  • Select on May 1 – ~$949 million, composed of ~95.6 million shares and $200 million earnout paid in shares.
  • Grassroots on July 17 – ~$875 million, composed of $75 million in cash, 102.8 million shares of Curaleaf and $40 million Curaleaf shares priced at the closing price.

The good news is that both large deals only require $75 million in cash payouts. The announced sale-leaseback of six properties in three states for $28.3 million adds a source of liquidity not previously available to the cannabis sector.

Curaleaf ended Q2 with $82 million worth of property and equipment and another $69 million in investments. These two asset piles plus acquired assets will provide more access to liquidity, if needed by the company.

Future Global Leader

The U.S. cannabis market remains in constant flux due to most market leaders having multiple acquisitions still in flux leaving aggressive expansion plans on hold. Curaleaf provides this handy view of the market cap leaders amongst the U.S. MSOs.

View photos

(Source: Curaleaf presentation)

Curaleaf has lost all the gains since announcing the Grassroots deals. The stock will have a diluted share count of ~659 million shares once closing both deals leading to a listed market cap of only ~$4.1 billion.

The more interesting story is the March pro-forma revenues of $87 million placing Curaleaf in a position for global leadership. Remember that Canopy Growth (CGC) had June quarter revenues of C$90.5 million and Aurora Cannabis (ACB) had preliminary sales of up to C$107.0 million for only $80.6 million.

Based on these numbers, Curaleaf is already the market leader in revenues from the cannabis market.

The Consensus Verdict

TipRanks’ data shows a small but bullish camp backing this US cannabis player. The ‘Moderate Buy’ stock has amassed 2 ‘buy’ ratings in the last three months. The 12-month average price target stands tall at $12.00, marking nearly 90% in return potential. (See Curaleaf’s price targets and analyst ratings on TipRanks)

Takeaway

The key investor takeaway is that Curaleaf is in the process of building the market leading American cannabis company. The recent June quarter results of the large Canadian LPs place the U.S. MSO in a global leadership position without even leaving the U.S. market.

The leading U.S. MSO remains a long-term buy for investors until the stock market views Curaleaf in the same light as companies like Aurora Cannabis and Canopy Growth.

Visit TipRanks’ Trending Stocks page, and find out what companies Wall Street’s top analysts are looking at now.

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Aurora Cannabis Inc (NYSE:ACB) Receives Consensus Recommendation of “Hold” from Brokerages

Aurora Cannabis Inc (NYSE:ACB) has earned an average rating of “Hold” from the thirteen ratings firms that are currently covering the stock, …

Aurora Cannabis logoAurora Cannabis Inc (NYSE:ACB) has earned an average rating of “Hold” from the thirteen ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $8.09.

A number of equities analysts recently issued reports on the stock. Piper Jaffray Companies assumed coverage on shares of Aurora Cannabis in a research report on Monday, August 12th. They issued a “neutral” rating and a $7.00 target price for the company. Zacks Investment Research lowered shares of Aurora Cannabis from a “buy” rating to a “sell” rating in a research report on Thursday, August 15th. ValuEngine upgraded shares of Aurora Cannabis from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Bank of America lowered shares of Aurora Cannabis from a “buy” rating to a “neutral” rating and set a $7.30 target price for the company. in a research report on Thursday, July 18th. Finally, Compass Point assumed coverage on shares of Aurora Cannabis in a research report on Monday, July 8th. They issued a “neutral” rating for the company.

A number of hedge funds and other institutional investors have recently modified their holdings of ACB. ETF Managers Group LLC acquired a new stake in Aurora Cannabis in the 2nd quarter valued at about $88,613,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Aurora Cannabis by 158.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,302,496 shares of the company’s stock valued at $20,837,000 after acquiring an additional 1,410,446 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Aurora Cannabis by 56.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,609,856 shares of the company’s stock valued at $22,680,000 after acquiring an additional 946,887 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Aurora Cannabis by 114.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,693,900 shares of the company’s stock valued at $13,271,000 after acquiring an additional 905,305 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in Aurora Cannabis in the 4th quarter valued at about $3,105,000. 9.11% of the stock is owned by institutional investors.

Shares of ACB opened at $5.80 on Tuesday. The firm has a 50-day moving average price of $6.46 and a 200 day moving average price of $7.78. The firm has a market capitalization of $5.89 billion, a PE ratio of 48.33 and a beta of 2.44. The company has a quick ratio of 1.98, a current ratio of 2.37 and a debt-to-equity ratio of 0.10. Aurora Cannabis has a 52-week low of $4.58 and a 52-week high of $12.52.

Aurora Cannabis Company Profile

Aurora Cannabis Inc produces and distributes medical cannabis products. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain, from facility engineering and design to cannabis breeding, genetics research, production, derivatives, high value-add product development, home cultivation, wholesale, and retail distribution.

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Analyst Recommendations for Aurora Cannabis (NYSE:ACB)

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