Aurora Cannabis Target of Unusually High Options Trading (NASDAQ:ACB)

Aurora Cannabis Inc. (NASDAQ:ACB) saw some unusual options trading activity on Tuesday. Traders acquired 24,073 call options on the stock. This represents an increase of approximately 38% compared to the typical volume of 17,462 call options.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upgraded shares of Aurora Cannabis from a “hold” rating to a “buy” rating in a research report on Friday, February 9th.

Aurora Cannabis Stock Performance

NASDAQ:ACB opened at $7.42 on Wednesday. Aurora Cannabis has a twelve month low of $2.84 and a twelve month high of $11.50. The company has a 50-day moving average of $4.51 and a 200-day moving average of $4.56. The firm has a market cap of $404.69 million, a price-to-earnings ratio of -2.56 and a beta of 2.36. The company has a current ratio of 3.79, a quick ratio of 2.45 and a debt-to-equity ratio of 0.14.

Aurora Cannabis (NASDAQ:ACB) last announced its earnings results on Thursday, February 8th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.10). Aurora Cannabis had a negative return on equity of 23.27% and a negative net margin of 48.82%. The firm had revenue of $53.34 million during the quarter, compared to analyst estimates of $45.94 million. Analysts forecast that Aurora Cannabis will post -0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ACB. MMCAP International Inc. SPC bought a new stake in Aurora Cannabis in the 3rd quarter valued at $4,659,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Aurora Cannabis by 6.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,888,202 shares of the company’s stock valued at $1,690,000 after buying an additional 172,049 shares during the period. Yong Rong HK Asset Management Ltd bought a new stake in Aurora Cannabis in the 3rd quarter valued at $878,000. Cambria Investment Management L.P. increased its holdings in Aurora Cannabis by 115.5% in the 3rd quarter. Cambria Investment Management L.P. now owns 386,365 shares of the company’s stock valued at $226,000 after buying an additional 207,095 shares during the period. Finally, Mackenzie Financial Corp acquired a new stake in shares of Aurora Cannabis in the 4th quarter valued at $98,000. 47.63% of the stock is currently owned by institutional investors and hedge funds.

Aurora Cannabis Company Profile

Aurora Cannabis Inc, together with its subsidiaries, produces, distributes, and sells cannabis and cannabis-derivative products in Canada and internationally. It operates through three segments: Canadian Cannabis, European Cannabis, and Plant Propagation. The company produces, distributes, and sells medical and consumer cannabis products in Canada.