Traders Buy High Volume of Call Options on Aurora Cannabis (NASDAQ:ACB)

Aurora Cannabis Inc. (NASDAQ:ACB) was the recipient of unusually large options trading on Thursday. Investors acquired 4,976 call options on the company. This is an increase of approximately 39% compared to the average volume of 3,573 call options.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. TD Securities raised Aurora Cannabis to a “strong-buy” rating in a report on Thursday, December 12th. TD Cowen started coverage on shares of Aurora Cannabis in a research note on Wednesday, December 11th. They issued a “buy” rating for the company. Finally, Atb Cap Markets upgraded shares of Aurora Cannabis from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th.

Hedge Funds Weigh In On Aurora Cannabis

Hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in shares of Aurora Cannabis in the fourth quarter valued at approximately $31,000. Susquehanna Fundamental Investments LLC purchased a new stake in Aurora Cannabis in the 4th quarter valued at approximately $45,000. Millennium Management LLC acquired a new stake in Aurora Cannabis during the 4th quarter valued at $67,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Aurora Cannabis during the 4th quarter valued at $88,000. Finally, Wealthspire Advisors LLC purchased a new position in Aurora Cannabis during the fourth quarter worth $149,000. 47.63% of the stock is currently owned by hedge funds and other institutional investors.

Aurora Cannabis Price Performance

NASDAQ ACB traded up $0.34 during mid-day trading on Thursday, hitting $4.68. The stock had a trading volume of 2,616,942 shares, compared to its average volume of 3,230,404. The company has a 50 day simple moving average of $4.78 and a 200 day simple moving average of $4.97. The company has a market cap of $262.02 million, a price-to-earnings ratio of 93.46 and a beta of 1.70. Aurora Cannabis has a 52-week low of $3.42 and a 52-week high of $9.35. 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 (NASDAQ:ACB) last announced its quarterly 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 return on equity of 0.59% and a net margin of 0.42%. Equities analysts forecast that Aurora Cannabis will post 0.46 EPS for the current fiscal year.

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.