Aurora Cannabis Inc (NYSE:ACB) Short Interest Up 9.8% in December

Aurora Cannabis Inc (NYSE:ACB) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 171,210,000 shares, an increase of 9.8% from the December 15th total of 155,950,000 shares. Currently, 17.0% of the company’s stock are short sold. Based on an average trading volume of 26,850,000 shares, the days-to-cover ratio is currently 6.4 days.

A number of hedge funds have recently added to or reduced their stakes in the stock. First Manhattan Co. lifted its position in Aurora Cannabis by 50.0% in the 2nd quarter. First Manhattan Co. now owns 6,600 shares of the company’s stock valued at $51,000 after acquiring an additional 2,200 shares in the last quarter. Captrust Financial Advisors raised its stake in Aurora Cannabis by 44.3% during the 2nd quarter. Captrust Financial Advisors now owns 7,869 shares of the company’s stock valued at $62,000 after buying an additional 2,415 shares during the last quarter. Mutual Advisors LLC raised its stake in Aurora Cannabis by 11.9% during the 3rd quarter. Mutual Advisors LLC now owns 27,637 shares of the company’s stock valued at $121,000 after buying an additional 2,940 shares during the last quarter. Mosaic Family Wealth LLC raised its stake in Aurora Cannabis by 22.7% during the 3rd quarter. Mosaic Family Wealth LLC now owns 16,197 shares of the company’s stock valued at $71,000 after buying an additional 3,000 shares during the last quarter. Finally, US Bancorp DE raised its stake in Aurora Cannabis by 54.8% during the 2nd quarter. US Bancorp DE now owns 9,885 shares of the company’s stock valued at $77,000 after buying an additional 3,500 shares during the last quarter. 8.90% of the stock is currently owned by institutional investors and hedge funds.

ACB stock opened at $1.86 on Wednesday. The stock has a market capitalization of $1.95 billion, a PE ratio of -8.44 and a beta of 1.96. Aurora Cannabis has a 12-month low of $1.50 and a 12-month high of $10.32. The company has a current ratio of 1.27, a quick ratio of 0.83 and a debt-to-equity ratio of 0.12. The stock’s 50 day simple moving average is $2.20 and its 200 day simple moving average is $4.49.

Aurora Cannabis (NYSE:ACB) last released its quarterly earnings data on Thursday, November 14th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.04. The business had revenue of $57.02 million for the quarter, compared to analysts’ expectations of $72.82 million. Aurora Cannabis had a negative return on equity of 2.97% and a negative net margin of 124.57%. On average, research analysts predict that Aurora Cannabis will post -0.13 earnings per share for the current year.

Several analysts have weighed in on ACB shares. MKM Partners reaffirmed a “sell” rating and set a $2.00 price objective (down from $3.00) on shares of Aurora Cannabis in a research report on Monday, December 23rd. CIBC began coverage on Aurora Cannabis in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $7.00 price target on the stock. Jefferies Financial Group cut Aurora Cannabis to a “hold” rating and set a $3.00 price target on the stock. in a research report on Tuesday, December 31st. Piper Sandler cut Aurora Cannabis from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $3.00 to $1.00 in a research report on Friday, January 10th. Finally, Piper Jaffray Companies cut Aurora Cannabis from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from to in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $5.86.

About Aurora Cannabis

Aurora Cannabis Inc produces and distributes medical cannabis products. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain, from facility engineering and design to cannabis breeding, genetics research, production, derivatives, high value-add product development, home cultivation, wholesale, and retail distribution.

Recommended Story: Understanding Market Liquidity

Receive News & Ratings for Aurora Cannabis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aurora Cannabis and related companies with MarketBeat.com's FREE daily email newsletter.