Aurora Cannabis Sees Unusually High Options Volume (NASDAQ:ACB)

Key Points

• Aurora Cannabis saw unusually high options activity: Traders purchased 2,710 call options, roughly 248% above the average daily volume of 778 calls.
• The stock rose 15.2% to $4.51 on above-average trading volume, while its latest quarterly results beat expectations with adjusted EPS of $0.04 versus the $0.13 loss analysts expected.
• Institutional investors own 47.63% of the company’s shares, and recent analyst changes have contributed to an overall “Moderate Buy” consensus rating.

Aurora Cannabis Inc. (NASDAQ:ACB - Get Free Report) was the recipient of some unusual options trading activity on Monday. Traders acquired 2,710 call options on the stock. This is an increase of approximately 248% compared to the average daily volume of 778 call options.

Aurora Cannabis Stock Up 15.2%

NASDAQ:ACB traded up $0.59 during trading hours on Monday, reaching $4.51. The company's stock had a trading volume of 1,898,183 shares, compared to its average volume of 1,109,762. The company has a market capitalization of $296.73 million, a P/E ratio of -3.20 and a beta of 0.63. Aurora Cannabis has a 12 month low of $2.56 and a 12 month high of $6.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.80 and a current ratio of 5.36. The stock has a 50 day moving average price of $3.68 and a two-hundred day moving average price of $3.37.

Aurora Cannabis (NASDAQ:ACB - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.17. Aurora Cannabis had a positive return on equity of 4.37% and a negative net margin of 32.26%.The business had revenue of $47.62 million for the quarter, compared to analysts' expectations of $47.45 million. Equities analysts predict that Aurora Cannabis will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Aurora Cannabis

Institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC raised its holdings in Aurora Cannabis by 1.2% in the second quarter. Tidal Investments LLC now owns 1,264,494 shares of the company's stock worth $3,528,000 after purchasing an additional 14,827 shares in the last quarter. Leonteq Securities AG boosted its holdings in shares of Aurora Cannabis by 24.7% in the 1st quarter. Leonteq Securities AG now owns 42,839 shares of the company's stock valued at $140,000 after buying an additional 8,472 shares in the last quarter. Silver Oak Securities Incorporated grew its position in shares of Aurora Cannabis by 71.3% in the 1st quarter. Silver Oak Securities Incorporated now owns 37,223 shares of the company's stock worth $122,000 after buying an additional 15,491 shares during the last quarter. Baader Bank Aktiengesellschaft grew its position in shares of Aurora Cannabis by 37.3% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 33,060 shares of the company's stock worth $108,000 after buying an additional 8,990 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Aurora Cannabis during the 2nd quarter worth approximately $56,000. Institutional investors own 47.63% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on ACB shares. BMO Capital Markets raised Aurora Cannabis to a "hold" rating in a research note on Wednesday, August 5th. Weiss Ratings raised Aurora Cannabis from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday. Zacks Research upgraded Aurora Cannabis from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. Finally, Wall Street Zen raised Aurora Cannabis from a "sell" rating to a "hold" rating in a research report on Sunday, September 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy".

Aurora Cannabis Company Profile

Aurora Cannabis Inc is a Canadian cannabis company focused primarily on the production, distribution and sale of medical cannabis. The company offers cannabis products such as dried flower, pre-rolls, oils, softgels, capsules and other formulations through its medical and consumer brands.

Founded in 2013 and headquartered in Edmonton, Alberta, Aurora serves adult-use and medical markets in Canada and supplies medical cannabis to selected international markets. Its international operations and partnerships have included markets in Europe, Australia and other regions where cannabis is permitted for medical use.

Aurora sells products under brands including Aurora, CanniMed, MedReleaf and San Rafael '71.

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