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

Aurora Cannabis Inc. (NASDAQ:ACB) saw some unusual options trading on Thursday. Stock traders bought 45,469 call options on the company. This is an increase of approximately 116% compared to the typical volume of 21,026 call options.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ACB. MMCAP International Inc. SPC purchased a new position in shares of Aurora Cannabis in the third quarter valued at $4,659,000. Cambria Investment Management L.P. increased its position in Aurora Cannabis by 115.5% during the 3rd quarter. Cambria Investment Management L.P. now owns 386,365 shares of the company’s stock worth $226,000 after purchasing an additional 207,095 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in Aurora Cannabis during the 4th quarter worth about $98,000. Mirae Asset Global Investments Co. Ltd. increased its position in Aurora Cannabis by 6.3% during 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 purchasing an additional 172,049 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Aurora Cannabis during the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 47.63% of the company’s stock.

Analysts Set New Price Targets

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

Aurora Cannabis Price Performance

NASDAQ ACB traded up $0.60 during mid-day trading on Thursday, hitting $7.72. The stock had a trading volume of 10,424,181 shares, compared to its average volume of 5,362,573. The company has a 50 day simple moving average of $5.65 and a 200 day simple moving average of $4.80. The company has a market cap of $421.13 million, a price-to-earnings ratio of -2.58 and a beta of 1.96. Aurora Cannabis has a 52-week low of $2.84 and a 52-week high of $11.50. The company has a quick ratio of 2.45, a current ratio of 3.79 and a debt-to-equity ratio of 0.14.

About Aurora Cannabis

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.