Aphria (NYSE:APHA) Shares Down 5.8%

Aphria Inc (NYSE:APHA) fell 5.8% during mid-day trading on Thursday . The company traded as low as $6.38 and last traded at $6.02, 214,363 shares traded hands during trading. A decline of 97% from the average session volume of 6,969,045 shares. The stock had previously closed at $6.39.

A number of brokerages recently issued reports on APHA. CIBC cut shares of Aphria from a “neutral” rating to a “sector underperform” rating in a research report on Friday, July 26th. ValuEngine raised shares of Aphria from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research raised shares of Aphria from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group began coverage on shares of Aphria in a research report on Friday, May 24th. They set a “buy” rating and a $11.00 price target for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. Aphria has a consensus rating of “Buy” and a consensus target price of $13.63.

The firm has a market capitalization of $1.57 billion, a P/E ratio of -54.18 and a beta of 3.07. The business’s 50 day simple moving average is $6.46 and its two-hundred day simple moving average is $7.96.

Aphria (NYSE:APHA) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.10. The firm had revenue of $128.60 million for the quarter, compared to the consensus estimate of $99.26 million. The business’s quarterly revenue was up 971.7% on a year-over-year basis. On average, analysts forecast that Aphria Inc will post 0.06 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. ETF Managers Group LLC bought a new stake in Aphria during the 2nd quarter valued at about $48,941,000. Vanguard Group Inc. increased its stake in Aphria by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 5,402,302 shares of the company’s stock valued at $37,870,000 after purchasing an additional 135,714 shares in the last quarter. Norges Bank bought a new stake in Aphria during the 4th quarter valued at about $10,301,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Aphria by 1,307.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,057,811 shares of the company’s stock valued at $9,866,000 after purchasing an additional 982,671 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Aphria by 410.2% during the 2nd quarter. Bank of America Corp DE now owns 507,034 shares of the company’s stock valued at $3,554,000 after purchasing an additional 407,658 shares in the last quarter. Institutional investors and hedge funds own 8.58% of the company’s stock.

About Aphria (NYSE:APHA)

Aphria Inc produces and sells medical cannabis in Canada and internationally. The company offers sativa, indica, and hybrid medical marijuana products, as well as cannabis oils. It serves patients and health professionals. The company also sells its products online. Aphria Inc is headquartered in Leamington, Canada.

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