TD Securities Upgrades Aurora Cannabis (NASDAQ:ACB) to “Strong-Buy”

Aurora Cannabis (NASDAQ:ACB) was upgraded by investment analysts at TD Securities to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Separately, TD Cowen assumed coverage on shares of Aurora Cannabis in a research note on Wednesday. They set a “buy” rating for the company.

Aurora Cannabis Stock Performance

Shares of ACB stock opened at $4.27 on Thursday. The business’s 50-day moving average price is $5.02 and its 200-day moving average price is $5.55. Aurora Cannabis has a 12 month low of $2.84 and a 12 month high of $9.35. The company has a current ratio of 3.83, a quick ratio of 1.88 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $234.18 million, a price-to-earnings ratio of -5.62 and a beta of 1.86.

Hedge Funds Weigh In On Aurora Cannabis

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Advisors LLC acquired a new position in Aurora Cannabis in the first quarter valued at $59,000. TD Asset Management Inc acquired a new position in shares of Aurora Cannabis in the 2nd quarter valued at about $255,000. Headlands Technologies LLC boosted its position 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 in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Aurora Cannabis during the second quarter worth approximately $50,000. Finally, Toronto Dominion Bank increased 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. 47.63% of the stock is owned by institutional investors and hedge funds.

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.