Aurora Cannabis Inc (ACB) Sees Large Growth in Short Interest

Aurora Cannabis Inc (NYSE:ACB) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 77,129,695 shares, an increase of 7.0% from the February 15th total of 72,083,002 shares. Based on an average daily volume of 21,230,283 shares, the short-interest ratio is presently 3.6 days.

ACB has been the subject of several recent research reports. Cowen initiated coverage on shares of Aurora Cannabis in a report on Tuesday, March 5th. They set an “outperform” rating for the company. Seaport Global Securities started coverage on shares of Aurora Cannabis in a report on Thursday, February 21st. They issued a “neutral” rating for the company. TheStreet cut shares of Aurora Cannabis from a “c” rating to a “d+” rating in a report on Monday, February 25th. Jefferies Financial Group started coverage on shares of Aurora Cannabis in a report on Monday, February 25th. They issued a “buy” rating for the company. Finally, GMP Securities raised shares of Aurora Cannabis from a “hold” rating to a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Aurora Cannabis has a consensus rating of “Buy” and a consensus target price of $9.50.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Financial Advocates Investment Management acquired a new stake in shares of Aurora Cannabis in the fourth quarter valued at about $74,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Aurora Cannabis in the fourth quarter valued at about $26,000. Advisory Services Network LLC acquired a new stake in shares of Aurora Cannabis in the fourth quarter valued at about $29,000. Trustcore Financial Services LLC acquired a new stake in shares of Aurora Cannabis in the fourth quarter valued at about $33,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Aurora Cannabis in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 8.16% of the company’s stock.

ACB opened at $9.61 on Friday. Aurora Cannabis has a fifty-two week low of $4.05 and a fifty-two week high of $12.52. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.31 and a quick ratio of 2.50. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of 80.08 and a beta of 2.90.

Aurora Cannabis (NYSE:ACB) last released its quarterly earnings data on Monday, February 11th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Aurora Cannabis had a negative net margin of 57.54% and a positive return on equity of 3.95%. The company had revenue of $41.00 million during the quarter. As a group, equities analysts anticipate that Aurora Cannabis will post -0.17 EPS for the current year.

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Aurora Cannabis Company Profile

Aurora Cannabis Inc produces and distributes medical cannabis products. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain, from facility engineering and design to cannabis breeding, genetics research, production, derivatives, high value-add product development, home cultivation, wholesale, and retail distribution.

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