Aurora Cannabis Sees Unusually Large Options Volume (NASDAQ:ACB)

Aurora Cannabis Inc. (NASDAQ:ACB) saw some unusual options trading activity on Wednesday. Traders acquired 14,034 call options on the company. This is an increase of 480% compared to the typical volume of 2,420 call options.

Aurora Cannabis Stock Performance

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

Aurora Cannabis (NASDAQ:ACB) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate 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%. Equities analysts forecast that Aurora Cannabis will post -0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

ACB has been the subject of a number of recent analyst reports. TD Securities upgraded Aurora Cannabis to a “strong-buy” rating in a research note on Thursday, December 12th. TD Cowen initiated coverage on shares of Aurora Cannabis in a research report on Wednesday, December 11th. They set a “buy” rating for the company.

Institutional Trading of Aurora Cannabis

A number of institutional investors and hedge funds have recently modified their holdings of ACB. Cubist Systematic Strategies LLC bought a new stake in shares of Aurora Cannabis in the 2nd quarter worth approximately $50,000. Mackenzie Financial Corp bought a new stake in Aurora Cannabis in the second quarter valued at $113,000. Wealthspire Advisors LLC acquired a new position in shares of Aurora Cannabis during the fourth quarter valued at $149,000. Finally, Tidal Investments LLC grew its position in shares of Aurora Cannabis by 2.7% during the third quarter. Tidal Investments LLC now owns 1,344,321 shares of the company’s stock worth $7,905,000 after acquiring an additional 34,988 shares during the last quarter. 47.63% of the stock is owned by institutional investors and hedge funds.

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.