Needham analyst Matt McGinley assigned a Sell rating to Aurora Cannabis (ACB) today. The company’s shares closed last Thursday at $7.32.
According to TipRanks.com, McGinley is a 5-star analyst with an average return of 73.6% and a 65.5% success rate. McGinley covers the Basic Materials sector, focusing on stocks such as Green Thumb Industries, Curaleaf Holdings, and Trulieve Cannabis.
Aurora Cannabis has an analyst consensus of Moderate Sell, with a price target consensus of $8.11, implying a 3.6% upside from current levels. In a report issued on May 11, CIBC also downgraded the stock to Sell with a C$9.00 price target.
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Based on Aurora Cannabis’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $67.67 million and GAAP net loss of $293 million. In comparison, last year the company earned revenue of $55.14 million and had a GAAP net loss of $1.29 billion.
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Aurora Cannabis, Inc. engages in the production, distribution and sale of cannabis products. It also produces and sells indoor cultivation systems and hemp related food products. The company was founded by Terry Booth and Steve Dobler on December 21, 2006 and is headquartered in Edmonton, Canada.
