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

Aurora Cannabis Inc. (NASDAQ:ACB) was the target of some unusual options trading on Tuesday. Investors purchased 24,073 call options on the stock. This is an increase of approximately 38% compared to the average volume of 17,462 call options.

Aurora Cannabis Stock Performance

ACB traded up $0.89 on Tuesday, reaching $7.17. 5,556,439 shares of the stock were exchanged, compared to its average volume of 4,757,427. The company’s 50-day moving average price is $4.44 and its 200 day moving average price is $4.55. Aurora Cannabis has a fifty-two week low of $2.84 and a fifty-two week high of $11.50. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.79 and a quick ratio of 2.45. The firm has a market capitalization of $391.05 million, a PE ratio of -2.47 and a beta of 2.36.

Aurora Cannabis (NASDAQ:ACB) last released its quarterly earnings data on Thursday, February 8th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.10). The company had revenue of $53.34 million for the quarter, compared to analysts’ expectations of $45.94 million. Aurora Cannabis had a negative net margin of 48.82% and a negative return on equity of 23.27%. As a group, sell-side analysts forecast that Aurora Cannabis will post -0.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group raised Aurora Cannabis from a “hold” rating to a “buy” rating in a research report on Friday, February 9th.

Hedge Funds Weigh In On Aurora Cannabis

Institutional investors and hedge funds have recently modified their holdings of the business. Toronto Dominion Bank increased its stake in shares of Aurora Cannabis by 219.4% in the 3rd quarter. Toronto Dominion Bank now owns 62,943 shares of the company’s stock valued at $37,000 after purchasing an additional 43,236 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in Aurora Cannabis in the 4th quarter worth about $42,000. Vontobel Holding Ltd. boosted its holdings in Aurora Cannabis by 67.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 125,304 shares of the company’s stock worth $73,000 after buying an additional 50,500 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Aurora Cannabis in the 4th quarter worth about $98,000. Finally, Cambria Investment Management L.P. boosted its holdings in Aurora Cannabis by 115.5% in the 3rd quarter. Cambria Investment Management L.P. now owns 386,365 shares of the company’s stock worth $226,000 after buying an additional 207,095 shares during the last quarter. Hedge funds and other institutional investors own 47.63% of the company’s 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.