Aurora Cannabis (TSE:ACB) Sets New 12-Month Low at $3.59

  • Aurora Cannabis (TSE:ACB) Sets New 12-Month Low at $3.59

Aurora Cannabis (TSE:ACB) Sets New 12-Month Low at $3.59

The highest sales estimate is $84.47 million and the lowest is $63.04 million.

The Supreme Cannabis Company (TSE:FIRE) also filed its quarterly results after the bell on Thursday that showed the company's revenues decreasing by almost 40% on a quarter over quarter basis.

On average, analysts expect that Aurora Cannabis will report full-year sales of $391.87 million for the current fiscal year, with estimates ranging from $296.40 million to $473.56 million. "We delivered solid operating results this quarter, exemplified by our industry-leading cash cost to produce which declined another 25 per cent to $0.85 per gram this quarter, as well as by our industry-leading gross margins and market share". Canopy Growth (NYSE: CGC), Aurora's closest competitor in size, also posted its results on Thursday. The company reported $0.01 EPS for the quarter, topping the Thomson Reuters' consensus estimate of ($0.03) by $0.04. In the same period past year, the company reported EPS of C$0.12 on revenue of C$29.67 million.

Several other research firms also recently issued reports on ACB. Finally, Pi Financial set a $7.00 price target on shares of Aurora Cannabis and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Finally, Cantor Fitzgerald raised shares of Aurora Cannabis from a "neutral" rating to an "overweight" rating in a research note on Friday. The company now has an average rating of Hold and a consensus target price of $7.27. Stifel Nicolaus reissued a sell rating and set a $5.00 target price (down from $7.00) on shares of Aurora Cannabis in a research note on Thursday, September 12th. Desjardins dropped their price target on shares of Aurora Cannabis from C$16.50 to C$14.00 and set a "buy" rating on the stock in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company's stock.

Piper Jaffray Companies reduced their Q3 2021 earnings per share (EPS) estimates for Aurora Cannabis in a research note issued on Monday, October 21st, Zacks Investment Research reports.

"With the work completed to date, both the Aurora Nordic 2 and Aurora Sun facilities are now fully enclosed", reads a company news release.

The company also announced plans to halt construction at one of its facilities in Denmark, which Aurora says will save it about $60 million over the course of the next 12 months. The stock's 50 day simple moving average is $3.86 and its two-hundred day simple moving average is $6.25. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.14 and a current ratio of 1.52. The stock has a market capitalization of $3.65 billion, a P/E ratio of -12.41 and a beta of 2.30. Janus Henderson Group PLC lifted its holdings in Aurora Cannabis by 98.2% in the second quarter. Renaissance Technologies LLC increased its position in shares of Aurora Cannabis by 114.8% during the second quarter. F3Logic LLC raised its stake in shares of Aurora Cannabis by 74.5% in the second quarter. F3Logic LLC now owns 26,940 shares of the company's stock worth $215,000 after acquiring an additional 11,500 shares during the last quarter. Kistler Tiffany Companies LLC increased its holdings in shares of Aurora Cannabis by 77.9% in the second quarter.

"Despite short term distribution and regulatory headwinds in Canada that have temporarily impacted the industry, the long-term opportunity for Aurora in the global cannabis and cannabinoids market is enormous", Aurora Cannabis chief executive officer Terry Booth said of the company's results.