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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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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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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Cannabis Cultivation Laws Finally Loosen

Last year, Aurora Cannabis (ACB) partnered with McGill University to study the effectiveness of cannabidiol in treating chronic pain, anxiety, and …

Yesterday, the DEA (Drug Enforcement Administration) announced it had loosened the laws on cannabis cultivation to support the expansion of cannabis research in the country. The federal law enforcement agency hopes the availability of cannabis for research will rise with the registration of more qualified growers.

In its announcement, the DEA reported that in the last two years, the number of individuals registering for cannabis-related research has risen 40%. It added that the production quota has more than doubled due to an increase in federally approved research projects.

In the press release, DEA administrator Uttam Dhillon stated, “DEA is making progress in the program to register additional marijuana growers for federally authorized research, and will work with other relevant federal agencies to expedite the necessary next steps.” He added, “We support additional research into marijuana and its components, and we believe registering more growers will result in researchers having access to a wider variety for study.”

Why the cannabis cultivation news is important

Federal law still prohibits cannabis. Only 11 states have legalized adult-use cannabis, and 33 states have legalized cannabis for medical purposes. Therefore, marijuana still has a long way to go to get legalized at the federal level. The DEA’s decision to loosen its grip on cannabis cultivation could boost cannabis companies’ research.

This year, Tilray (TLRY) announced its support of Melbourne’s Murdoch Children’s Research Institute in evaluating the use of cannabis extracts for treating severe behavioral problems in pediatric patients with intellectual disabilities. The company has also announced its support of Montreal’s McGill University Health Centre in evaluating the immunological effects of medical cannabis in people infected by HIV.

Last year, Aurora Cannabis (ACB) partnered with McGill University to study the effectiveness of cannabidiol in treating chronic pain, anxiety, and depression. Also, Cronos Group (CRON) announced its sponsorship of Israel’s Technion Research and Development Foundation in evaluating cannabinoids’ effectiveness in regulating skin health.

Cannabis stocks’ performance

Cannabis companies’ recent regulatory scandals have dampened investor sentiment, dragging stock prices down. This year, Aurora and Cronos have returned 13.3%, and 6.7%, respectively. However, Tilray has fallen 60%.

Recently, Aurora completed its acquisition of Hempco Food and Fiber. Aurora also raised its secured credit facility to 360 million Canadian dollars, and has provided better-than-expected fourth-quarter guidance. Combined, these factors appear to have boosted Aurora stock.

On August 8, Cronos reported its second-quarter results, beating analysts’ revenue estimate. However, its operating expenses were higher than analysts’ expectation, and the company guided for operating losses rising in this year’s second half. These factors offset some gains in the company’s stock price.

On August 12, Tilray reported a weaker-than-expected second quarter. The company had also reported higher-than-expected net losses in the first quarter, dragging its stock down.

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    Global Legal Cannabis Market Insights Report 2019-2025: Aurora Cannabis, Canopy Growth …

    The “Legal Cannabis Market” report contains wide-ranging statistical surveying for Legal Cannabis which empowers the client to break down the …

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