Aurora Cannabis Inc. (NASDAQ:ACB) Sees Large Growth in Short Interest

Aurora Cannabis Inc. (NASDAQ:ACB) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 4,520,000 shares, a growth of 5.9% from the December 15th total of 4,270,000 shares. Based on an average daily trading volume, of 930,400 shares, the short-interest ratio is presently 4.9 days. Approximately 8.3% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ACB. Cubist Systematic Strategies LLC purchased a new position in Aurora Cannabis in the 2nd quarter worth approximately $50,000. Toronto Dominion Bank lifted its position in Aurora Cannabis by 34,356.4% during the second quarter. Toronto Dominion Bank now owns 18,951 shares of the company’s stock valued at $88,000 after purchasing an additional 18,896 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Aurora Cannabis in the 2nd quarter worth $113,000. Finally, Tidal Investments LLC increased its holdings in shares of Aurora Cannabis by 2.7% in the 3rd quarter. Tidal Investments LLC now owns 1,344,321 shares of the company’s stock worth $7,905,000 after buying an additional 34,988 shares during the last quarter. Institutional investors own 47.63% of the company’s stock.

Aurora Cannabis Stock Performance

Shares of NASDAQ ACB opened at $3.85 on Monday. The firm has a 50 day moving average of $4.35 and a 200 day moving average of $5.31. The firm has a market capitalization of $211.29 million, a price-to-earnings ratio of -5.07 and a beta of 1.86. Aurora Cannabis has a 12-month low of $2.84 and a 12-month high of $9.35. The company has a current ratio of 3.83, a quick ratio of 1.88 and a debt-to-equity ratio of 0.07.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ACB. TD Securities raised Aurora Cannabis to a “strong-buy” rating in a research report on Thursday, December 12th. TD Cowen initiated coverage on Aurora Cannabis in a 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.