Investors Purchase High Volume of Call Options on Aurora Cannabis (NASDAQ:ACB)

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

Aurora Cannabis Price Performance

Shares of Aurora Cannabis stock traded up $1.78 during trading on Wednesday, reaching $5.46. 37,816,741 shares of the stock traded hands, compared to its average volume of 2,240,929. The business has a fifty day simple moving average of $4.19 and a two-hundred day simple moving average of $5.16. Aurora Cannabis has a 52-week low of $2.84 and a 52-week high of $9.35. The company has a market capitalization of $299.32 million, a price-to-earnings ratio of -7.11 and a beta of 1.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.83 and a quick ratio of 1.88.

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

Analyst Ratings Changes

ACB has been the topic of several recent analyst reports. TD Securities raised Aurora Cannabis to a “strong-buy” rating in a research note on Thursday, December 12th. TD Cowen began coverage on shares of Aurora Cannabis in a report on Wednesday, December 11th. They issued a “buy” rating on the stock.

Institutional Trading of Aurora Cannabis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC grew its holdings in shares of 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 during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Aurora Cannabis in the 2nd quarter valued at about $50,000. Mackenzie Financial Corp bought a new position in Aurora Cannabis in the 2nd quarter worth about $113,000. Finally, Wealthspire Advisors LLC purchased a new position in shares of Aurora Cannabis during the fourth quarter worth approximately $149,000. 47.63% of the stock is owned by hedge funds and other institutional investors.

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.