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

Aurora Cannabis Inc. (NASDAQ:ACB) was the recipient of unusually large options trading on Thursday. Stock traders purchased 4,976 call options on the stock. This represents an increase of 39% compared to the typical volume of 3,573 call options.

Institutional Investors Weigh In On Aurora Cannabis

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC raised its position in Aurora Cannabis by 2.7% in the 3rd quarter. Tidal Investments LLC now owns 1,344,321 shares of the company’s stock valued at $7,905,000 after buying an additional 34,988 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Aurora Cannabis by 8.6% during the 4th quarter. Renaissance Technologies LLC now owns 714,655 shares of the company’s stock worth $3,037,000 after acquiring an additional 56,400 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Aurora Cannabis by 7.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 84,921 shares of the company’s stock worth $361,000 after acquiring an additional 5,800 shares during the period. Connective Capital Management LLC bought a new stake in Aurora Cannabis in the 4th quarter valued at $330,000. Finally, Two Sigma Advisers LP boosted its stake in Aurora Cannabis by 18.7% in the 4th quarter. Two Sigma Advisers LP now owns 62,100 shares of the company’s stock valued at $264,000 after purchasing an additional 9,793 shares during the period. Institutional investors and hedge funds own 47.63% of the company’s stock.

Wall Street Analysts Forecast Growth

ACB has been the subject of several recent analyst reports. Atb Cap Markets upgraded Aurora Cannabis from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. TD Securities upgraded Aurora Cannabis to a “strong-buy” rating in a report on Thursday, December 12th. Finally, TD Cowen assumed coverage on Aurora Cannabis in a report on Wednesday, December 11th. They issued a “buy” rating on the stock.

Aurora Cannabis Price Performance

Shares of ACB opened at $4.46 on Friday. The company has a current ratio of 3.30, a quick ratio of 1.60 and a debt-to-equity ratio of 0.07. Aurora Cannabis has a 1 year low of $3.42 and a 1 year high of $9.35. The stock has a market cap of $249.97 million, a P/E ratio of 89.22 and a beta of 1.70. The stock’s 50-day moving average price is $4.79 and its two-hundred day moving average price is $4.95.

Aurora Cannabis (NASDAQ:ACB) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.15. Aurora Cannabis had a return on equity of 0.59% and a net margin of 0.42%. On average, equities analysts predict that Aurora Cannabis will post 0.46 earnings per share for the current year.

About Aurora Cannabis

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.