Short Interest in Aurora Cannabis Inc. (NASDAQ:ACB) Grows By 60.2%

Aurora Cannabis Inc. (NASDAQ:ACB) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 8,140,000 shares, a growth of 60.2% from the March 31st total of 5,080,000 shares. Currently, 52.6% of the company’s shares are sold short. Based on an average daily trading volume, of 5,730,000 shares, the days-to-cover ratio is currently 1.4 days.

Aurora Cannabis Trading Down 0.1 %

Shares of ACB opened at $6.70 on Friday. The company has a current ratio of 3.79, a quick ratio of 2.45 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $365.42 million, a P/E ratio of -2.31 and a beta of 2.36. The stock’s fifty day simple moving average is $4.63 and its 200 day simple moving average is $4.59. Aurora Cannabis has a twelve month low of $2.84 and a twelve month high of $11.50.

Aurora Cannabis (NASDAQ:ACB) last issued 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 return on equity of 23.27% and a negative net margin of 48.82%. The firm had revenue of $53.34 million during the quarter, compared to analysts’ expectations of $45.94 million. On average, equities research analysts forecast that Aurora Cannabis will post -0.85 earnings per share for the current 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.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ACB. Vontobel Holding Ltd. raised its position in Aurora Cannabis by 67.5% in the third 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. Mirae Asset Global Investments Co. Ltd. raised its position in Aurora Cannabis by 6.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,888,202 shares of the company’s stock valued at $1,690,000 after purchasing an additional 172,049 shares during the period. Cambria Investment Management L.P. raised its position in Aurora Cannabis by 115.5% in the third quarter. Cambria Investment Management L.P. now owns 386,365 shares of the company’s stock valued at $226,000 after purchasing an additional 207,095 shares during the period. MMCAP International Inc. SPC purchased a new position in Aurora Cannabis in the third quarter valued at about $4,659,000. Finally, Toronto Dominion Bank raised its position in Aurora Cannabis by 219.4% in the third 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 during the period. 47.63% of the stock is owned by hedge funds and other institutional investors.

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.