Short Interest in Aurora Cannabis Inc. (NASDAQ:ACB) Grows By 60.2%

Aurora Cannabis Inc. (NASDAQ:ACB) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 8,140,000 shares, an increase of 60.2% from the March 31st total of 5,080,000 shares. Based on an average trading volume of 5,730,000 shares, the days-to-cover ratio is currently 1.4 days. Approximately 52.6% of the company’s shares are short sold.

Hedge Funds Weigh In On Aurora Cannabis

A number of hedge funds and other institutional investors have recently made changes to their positions in ACB. Vontobel Holding Ltd. lifted its position in Aurora Cannabis by 67.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 125,304 shares of the company’s stock valued at $73,000 after acquiring an additional 50,500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position 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 acquiring an additional 172,049 shares in the last quarter. Cambria Investment Management L.P. lifted its position 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 acquiring an additional 207,095 shares in the last quarter. MMCAP International Inc. SPC bought a new stake in Aurora Cannabis in the 3rd quarter valued at $4,659,000. Finally, Toronto Dominion Bank lifted its position in Aurora Cannabis by 219.4% in the 3rd quarter. Toronto Dominion Bank now owns 62,943 shares of the company’s stock valued at $37,000 after acquiring an additional 43,236 shares in the last quarter. 47.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Aurora Cannabis Trading Down 0.1 %

Shares of NASDAQ ACB opened at $6.70 on Friday. The company’s fifty day moving average is $4.63 and its 200-day moving average is $4.59. The stock has a market cap of $365.42 million, a price-to-earnings ratio of -2.31 and a beta of 2.36. Aurora Cannabis has a twelve month low of $2.84 and a twelve month high of $11.50. The company has a quick ratio of 2.45, a current ratio of 3.79 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 for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.10). The firm had revenue of $53.34 million for the quarter, compared to the consensus estimate of $45.94 million. Aurora Cannabis had a negative return on equity of 23.27% and a negative net margin of 48.82%. Equities research analysts predict that Aurora Cannabis will post -0.85 EPS 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.