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

Aurora Cannabis Inc. (NASDAQ:ACB) was the recipient of unusually large options trading on Wednesday. Stock investors acquired 14,034 call options on the company. This is an increase of approximately 480% compared to the typical daily volume of 2,420 call options.

Aurora Cannabis Stock Up 45.9 %

Shares of Aurora Cannabis stock opened at $5.37 on Thursday. Aurora Cannabis has a 1 year low of $2.84 and a 1 year high of $9.35. The company has a market cap of $294.60 million, a P/E ratio of -7.07 and a beta of 1.85. The company has a current ratio of 3.83, a quick ratio of 1.88 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $4.21 and a 200 day moving average price of $5.16.

Aurora Cannabis (NASDAQ:ACB) last issued its earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.15. Aurora Cannabis had a negative return on equity of 2.19% and a negative net margin of 17.47%. As a group, analysts expect that Aurora Cannabis will post -0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Aurora Cannabis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its holdings in shares of Aurora Cannabis by 2.7% during 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. Wealthspire Advisors LLC bought a new position in Aurora Cannabis during the fourth quarter valued at approximately $149,000. Mackenzie Financial Corp bought a new position in Aurora Cannabis during the second quarter valued at approximately $113,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Aurora Cannabis in the second quarter valued at approximately $50,000. Hedge funds and other institutional investors own 47.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. TD Securities upgraded shares of Aurora Cannabis to a “strong-buy” rating in a report on Thursday, December 12th. TD Cowen assumed coverage on shares of Aurora Cannabis in a research report on Wednesday, December 11th. They set a “buy” rating on the stock.

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.