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Wednesday, November 25, 2020

Aphria Inc (OTCMKTS:APHQF) Springs Higher Following Strong Data and Strategic Interest

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The cannabis space has turned around since Constellation Brands (STZ) took another big bite of Canopy Growth Corp (NYSE: CGC) stock. That has stocks like Aphria Inc (OTCMKTS:APHQF) back on the mend. APHQF is interesting right now for a number of reasons, including its recent strong statement of financial results. Technically, the stock just held key support at the $7.50 level with a burst of buying.

“We had a healthy fourth quarter and a solid year with many achievements we are proud of,” said Vic Neufeld, Chief Executive Officer, Aphria. “We are excited and ready to hit the ground running on the first day of legal adult-use. It won’t be without its challenges but we have a plan and the team in place to get it done. We continue to sign supply agreements with provinces and territories, and our Southern Glazer’s sales network partnership is unmatched, ensuring our brands and products are available and represented by retailers across the country.”

Aphria Inc (OTCMKTS:APHQF) bills itself as a company that produces, supplies, and sells medical cannabis in Canada. Its cannabis products include dried flowers and cannabis oils. APHQF sells its products through its online store and telephone orders, as well as MMPR licensed producers.

The company offers sativa, indica, and hybrid medical marijuana products, as well as cannabis oils. It also provides support services in the form of medical consultations, group therapies, and rehabilitation to veteran and first responders.

The company sells its products through its online store or phones, as well as engages in the wholesale shipping of medical marijuana plant cuttings and dried buds to other licensed producers. Aphria Inc. is headquartered in Leamington, Canada.

According to press materials, “APHQF is one of Canada’s lowest cost producers, produces, supplies and sells medical cannabis. Located in Leamington, Ontario, the greenhouse capital of Canada. APHQF is truly powered by sunlight, allowing for the most natural growing conditions available. We are committed to providing pharma-grade medical cannabis, superior patient care while balancing patient economics and returns to shareholders. We are the first public licensed producer to report positive cash flow from operations and the first to report positive earnings in consecutive quarters.”

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As noted above, the company just hit the markets with some strong data. With the STZ move deeper into CGC, the cannabis patch is seeing some dynamism once again.

Moreover, the company just announced $2.2 million in adjusted EBITDA from ACMPR operations in the quarter and $8.4 million for the year, representing a 38% increase over the prior year.

Traders will note 4% piled on for shareholders of the name during the trailing week, but that move comes in the context of a larger bearish trend. Furthermore, the stock has registered increased average transaction volume recently, with the past month seeing 45% beyond what we have been seeing over the larger time frame.

“Beyond that, we will continue to extend our industry-leading expertise and experience into global markets. We’ve had an exciting year adding more depth and experience to our senior leadership team that has helped expand our international operations and presence outside of Canada, US and Australia to an additional eight countries, and look forward to continued expansion within LATAM,” continued Neufeld. “Our continued growth and success is a direct result of the hard work and dedication of our employees and partners in delivering quality product and value to our patients, and establishing Aphria as the premier cannabis company in Canada and around the world,” concluded Neufeld.

Now commanding a market cap of $1.88B, APHQF has a significant war chest ($59.7M) of cash on the books, which compares with about $2.8M in total current liabilities. APHQF is pulling in trailing 12-month revenues of $36.9M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 110.3%. We will update the story again soon as developments transpire. Sign-up for continuing coverage on shares of $APHQF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $APHQF, either long or short, and we have not been compensated for this article.

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