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

Aurora Cannabis Inc. (NASDAQ:ACB) saw some unusual options trading on Thursday. Traders bought 4,976 call options on the stock. This is an increase of 39% compared to the typical volume of 3,573 call options.

Hedge Funds Weigh In On Aurora Cannabis

A number of hedge funds have recently modified their holdings of ACB. Tidal Investments LLC boosted its holdings in Aurora Cannabis by 2.7% in the third quarter. Tidal Investments LLC now owns 1,344,321 shares of the company’s stock worth $7,905,000 after purchasing an additional 34,988 shares in the last quarter. Wealthspire Advisors LLC bought a new stake in Aurora Cannabis during the fourth quarter valued at about $149,000. SBI Securities Co. Ltd. bought a new stake in shares of Aurora Cannabis in the fourth quarter valued at about $31,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Aurora Cannabis in the fourth quarter valued at about $88,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Aurora Cannabis by 8.6% in the fourth quarter. Renaissance Technologies LLC now owns 714,655 shares of the company’s stock valued at $3,037,000 after buying an additional 56,400 shares during the period. 47.63% of the stock is owned by institutional investors and hedge funds.

Aurora Cannabis Price Performance

Shares of NASDAQ:ACB opened at $4.46 on Friday. The company’s fifty day moving average is $4.79 and its two-hundred day moving average is $4.95. The company has a quick ratio of 1.60, a current ratio of 3.30 and a debt-to-equity ratio of 0.07. Aurora Cannabis has a 12-month low of $3.42 and a 12-month high of $9.35. The company has a market cap of $249.97 million, a P/E ratio of 89.22 and a beta of 1.70.

Aurora Cannabis (NASDAQ:ACB) last announced its earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.15. Aurora Cannabis had a net margin of 0.42% and a return on equity of 0.59%. Equities analysts expect that Aurora Cannabis will post 0.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.