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

Aurora Cannabis Inc. (NASDAQ:ACB) was the target of unusually large options trading on Tuesday. Investors purchased 24,073 call options on the stock. This represents an increase of approximately 38% compared to the average daily volume of 17,462 call options.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. MMCAP International Inc. SPC bought a new position in Aurora Cannabis in the 3rd quarter valued at $4,659,000. Mirae Asset Global Investments Co. Ltd. grew its stake 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 purchasing an additional 172,049 shares during the period. Yong Rong HK Asset Management Ltd bought a new position in Aurora Cannabis in the 3rd quarter valued at $878,000. Cambria Investment Management L.P. grew its stake 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 purchasing an additional 207,095 shares during the period. Finally, Mackenzie Financial Corp bought a new position in Aurora Cannabis in the 4th quarter valued at $98,000. Institutional investors own 47.63% of the company’s stock.

Aurora Cannabis Trading Up 18.2 %

Shares of Aurora Cannabis stock opened at $7.42 on Wednesday. The stock has a fifty day simple moving average of $4.51 and a 200 day simple moving average of $4.56. Aurora Cannabis has a 12-month low of $2.84 and a 12-month high of $11.50. The company has a market capitalization of $404.69 million, a P/E 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 quarterly earnings results on Thursday, February 8th. The company reported ($0.20) earnings per share (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 company had revenue of $53.34 million for the quarter, compared to the consensus estimate of $45.94 million. On average, sell-side analysts anticipate that Aurora Cannabis will post -0.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.