Stock traders buy high volume of Aurora cannabis call options (NYSE:ACB)
On Friday, Aurora Cannabis Inc. (NYSE:ACB – Get Rating) benefited from unusual options trading activity. Investors acquired 21,625 call options on the stock. This represents an increase of approximately 65% over the average volume of 13,091 call options.
Hedge funds weigh in on Aurora Cannabis
A number of large investors have recently increased or reduced their stakes in the company. Credit Suisse AG increased its position in Aurora Cannabis by 18.6% in the third quarter. Credit Suisse AG now owns 318,740 shares of the company worth $389,000 after purchasing an additional 50,085 shares during the period. Cambria Investment Management LP increased its position in Aurora Cannabis by 77.3% in Q3. Cambria Investment Management LP now owns 194,636 shares of the company worth $237,000 after purchasing an additional 84,836 shares during the period. Virtu Financial LLC bought a new stake in Aurora Cannabis in Q3 for $97,000. Barclays PLC increased its stake in Aurora Cannabis by 1,440.4% in Q3. Barclays PLC now owns 232,600 shares in the company valued at $284,000 after buying an additional 217,500 shares last quarter. Finally, Great West Life Assurance Co. Can bought a new position in Aurora Cannabis stock during Q3 for $74,000. Hedge funds and other institutional investors own 29.53% of the company’s shares.
Aurora Cannabis Stock Performance
ACB rose $0.22 on Friday, hitting $1.53. The company’s stock had a trading volume of 1,145,202 shares, compared to its average volume of 12,434,801. Aurora Cannabis has a 12-month low of $0.98 and a 12-month high of 8.69 $. The company has a quick ratio of 4.17, a current ratio of 5.13 and a leverage ratio of 0.36. The company has a market capitalization of $458.09 million, a P/E ratio of -0.21 and a beta of 2.60. The company’s 50-day simple moving average is $1.28 and its 200-day simple moving average is $1.64.
Wall Street analysts predict growth
Several brokerages have weighed in on ACB recently. Piper Sandler lowered her price target on Aurora Cannabis shares from $4.00 to $3.00 and set a “neutral” rating on the stock in a Wednesday, September 21 report. Canaccord Genuity Group upgraded Aurora Cannabis shares from a “sell” rating to a “hold” rating in a Wednesday, September 21 report. Atb Cap Markets upgraded Aurora Cannabis shares from an “underperforming” rating to an “sector outperforming” rating in a Thursday, September 22 report. Finally, Canaccord Genuity Group upgraded Aurora Cannabis shares from a “sell” rating to a “hold” rating in a Wednesday, September 21 research note. One investment analyst gave the stock a sell rating, five gave the company a hold rating and one gave the company a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $3.76.
Aurora Cannabis Company Profile
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Aurora Cannabis, Inc engages in the production, distribution and sale of cannabis products. It also produces and sells indoor growing systems and hemp-related food products. The Company operates through the Canadian Cannabis and International Cannabis segments. Aurora Cannabis was founded by Terry Booth and Steve Dobler on December 21, 2006 and is headquartered in Edmonton, Canada.
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