Stock Traders Buy Large Volume of Call Options on Aurora Cannabis (NYSE:ACB)

Aurora Cannabis Inc. (NYSE:ACBGet Rating) was the target of unusually large options trading on Tuesday. Stock traders bought 21,276 call options on the company. This represents an increase of 50% compared to the typical volume of 14,178 call options.

Wall Street Analysts Forecast Growth

ACB has been the subject of a number of research analyst reports. Cantor Fitzgerald upgraded Aurora Cannabis from a “neutral” rating to an “overweight” rating in a report on Friday, June 24th. Stifel Nicolaus upgraded Aurora Cannabis from a “sell” rating to a “hold” rating and set a $2.15 price target for the company in a report on Monday, June 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Aurora Cannabis presently has a consensus rating of “Hold” and a consensus price target of $4.97.

Institutional Investors Weigh In On Aurora Cannabis

Large investors have recently made changes to their positions in the company. Raymond James & Associates boosted its stake in Aurora Cannabis by 39.7% in the 4th quarter. Raymond James & Associates now owns 16,770 shares of the company’s stock worth $91,000 after purchasing an additional 4,768 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Aurora Cannabis by 78.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 667,099 shares of the company’s stock valued at $3,609,000 after acquiring an additional 292,222 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Aurora Cannabis by 40.7% during the 4th quarter. Private Advisor Group LLC now owns 30,985 shares of the company’s stock valued at $168,000 after acquiring an additional 8,956 shares in the last quarter. Bank of Montreal Can boosted its position in Aurora Cannabis by 6.4% in the fourth quarter. Bank of Montreal Can now owns 934,668 shares of the company’s stock valued at $5,206,000 after buying an additional 56,423 shares in the last quarter. Finally, Gotham Asset Management LLC acquired a new position in Aurora Cannabis in the fourth quarter valued at about $64,000. Institutional investors and hedge funds own 29.53% of the company’s stock.

Aurora Cannabis Stock Performance

Shares of ACB stock opened at $1.40 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 4.76 and a current ratio of 5.85. Aurora Cannabis has a one year low of $1.21 and a one year high of $8.69. The company’s 50-day simple moving average is $1.52 and its 200-day simple moving average is $2.24. The stock has a market capitalization of $317.52 million, a price-to-earnings ratio of -0.30 and a beta of 2.64.

Aurora Cannabis Company Profile

(Get Rating)

Aurora Cannabis Inc produces, distributes, and sells cannabis and cannabis derivative products in Canada and internationally. It also engages in facility engineering and design, cannabis breeding, research, production, derivatives, product development, wholesale, and retail distribution activities. The company produces various strains of dried cannabis, cannabis oil and capsules, and topical kits for medical patients.

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