Aurora Cannabis Inc (NYSE:ACB) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 171,210,000 shares, an increase of 9.8% from the December 15th total of 155,950,000 shares. Currently, 17.0% of the shares of the company are sold short. Based on an average trading volume of 26,850,000 shares, the days-to-cover ratio is presently 6.4 days.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of Aurora Cannabis by 171.4% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 25,020 shares of the company’s stock worth $54,000 after acquiring an additional 15,800 shares during the last quarter. Man Group plc acquired a new stake in shares of Aurora Cannabis in the third quarter worth $544,000. IHT Wealth Management LLC boosted its position in shares of Aurora Cannabis by 59.5% in the third quarter. IHT Wealth Management LLC now owns 32,637 shares of the company’s stock worth $143,000 after buying an additional 12,172 shares during the period. Avestar Capital LLC acquired a new stake in shares of Aurora Cannabis in the third quarter worth $55,000. Finally, Penserra Capital Management LLC acquired a new stake in shares of Aurora Cannabis in the third quarter worth $277,000. Institutional investors and hedge funds own 8.90% of the company’s stock.
Shares of NYSE ACB traded up $0.02 during mid-day trading on Tuesday, reaching $1.72. The company had a trading volume of 11,447,685 shares, compared to its average volume of 27,771,062. The company has a current ratio of 1.27, a quick ratio of 0.83 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.83 billion, a PE ratio of -7.82 and a beta of 1.96. The company has a 50-day moving average price of $2.21 and a two-hundred day moving average price of $4.52. Aurora Cannabis has a 1-year low of $1.50 and a 1-year high of $10.32.
Aurora Cannabis (NYSE:ACB) last issued its earnings results on Thursday, November 14th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.04. The business had revenue of $57.02 million for the quarter, compared to analysts’ expectations of $72.82 million. Aurora Cannabis had a negative return on equity of 2.97% and a negative net margin of 124.57%. On average, research analysts expect that Aurora Cannabis will post -0.13 EPS for the current year.
ACB has been the topic of several analyst reports. Bank of America cut Aurora Cannabis from a “neutral” rating to an “underperform” rating and set a $1.00 target price on the stock. in a research report on Friday. MKM Partners reiterated a “sell” rating and set a $2.00 price target (down from $3.00) on shares of Aurora Cannabis in a research report on Monday, December 23rd. Pi Financial set a $7.00 price target on Aurora Cannabis and gave the company a “buy” rating in a research report on Tuesday, October 15th. Cantor Fitzgerald reiterated a “buy” rating and set a $4.40 price target on shares of Aurora Cannabis in a research report on Tuesday, November 26th. Finally, CIBC started coverage on Aurora Cannabis in a research report on Tuesday, September 24th. They set a “neutral” rating and a $7.00 price target on the stock. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $5.86.
About Aurora Cannabis
Aurora Cannabis Inc produces and distributes medical cannabis products. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain, from facility engineering and design to cannabis breeding, genetics research, production, derivatives, high value-add product development, home cultivation, wholesale, and retail distribution.
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