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

Aurora Cannabis Inc. (NASDAQ:ACB - Get Free Report) was the recipient of unusually large options trading on Tuesday. Investors purchased 24,073 call options on the stock. This is an increase of 38% compared to the typical volume of 17,462 call options.

Aurora Cannabis Stock Up 18.2 %

ACB stock traded up $1.14 during mid-day trading on Tuesday, hitting $7.42. The stock had a trading volume of 9,331,051 shares, compared to its average volume of 4,809,986. The company has a current ratio of 3.79, a quick ratio of 2.45 and a debt-to-equity ratio of 0.14. Aurora Cannabis has a 1-year low of $2.84 and a 1-year high of $11.50. The company has a fifty day moving average of $4.51 and a 200 day moving average of $4.56. The stock has a market capitalization of $404.69 million, a price-to-earnings ratio of -2.56 and a beta of 2.36.

Aurora Cannabis (NASDAQ:ACB - Get Free Report) last announced its earnings results on Thursday, February 8th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.10). Aurora Cannabis had a negative net margin of 48.82% and a negative return on equity of 23.27%. The business had revenue of $53.34 million for the quarter, compared to the consensus estimate of $45.94 million. On average, equities analysts expect that Aurora Cannabis will post -0.85 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of Aurora Cannabis

Several hedge funds have recently added to or reduced their stakes in ACB. Vontobel Holding Ltd. boosted its stake in Aurora Cannabis by 67.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 125,304 shares of the company's stock valued at $73,000 after purchasing an additional 50,500 shares during the period. Yong Rong HK Asset Management Ltd bought a new stake in shares of Aurora Cannabis in the 3rd quarter worth approximately $878,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Aurora Cannabis by 6.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,888,202 shares of the company's stock worth $1,690,000 after acquiring an additional 172,049 shares during the period. Cambria Investment Management L.P. lifted its position in shares of 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 acquiring an additional 207,095 shares during the period. Finally, MMCAP International Inc. SPC bought a new stake in shares of Aurora Cannabis in the 3rd quarter worth approximately $4,659,000. 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.