Aurora Cannabis Inc (ACB) Short Interest Update
Aurora Cannabis Inc (NYSE:ACB) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 77,129,695 shares, a growth of 7.0% from the February 15th total of 72,083,002 shares. Based on an average daily trading volume, of 21,230,283 shares, the days-to-cover ratio is presently 3.6 days.
A number of brokerages recently issued reports on ACB. GMP Securities reissued a “hold” rating and issued a $9.50 price objective on shares of Aurora Cannabis in a report on Tuesday, February 12th. Jefferies Financial Group initiated coverage on Aurora Cannabis in a report on Monday, February 25th. They issued a “buy” rating for the company. TheStreet lowered Aurora Cannabis from a “c” rating to a “d+” rating in a research note on Monday, February 25th. Seaport Global Securities initiated coverage on Aurora Cannabis in a research note on Thursday, February 21st. They set a “neutral” rating for the company. Finally, Cowen initiated coverage on Aurora Cannabis in a research note on Tuesday, March 5th. They set an “outperform” rating for the company. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $9.50.
ACB opened at $9.61 on Friday. Aurora Cannabis has a 52 week low of $4.05 and a 52 week high of $12.52. The firm has a market cap of $9.10 billion, a price-to-earnings ratio of 80.08 and a beta of 2.90. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.31 and a quick ratio of 2.50.
Several hedge funds have recently modified their holdings of ACB. Griffin Asset Management Inc. bought a new stake in shares of Aurora Cannabis in the 3rd quarter valued at about $128,000. QCI Asset Management Inc. NY grew its stake in Aurora Cannabis by 4.8% in the 4th quarter. QCI Asset Management Inc. NY now owns 86,159 shares of the company’s stock valued at $427,000 after buying an additional 3,913 shares during the last quarter. Virtu Financial LLC bought a new position in Aurora Cannabis in the 4th quarter valued at approximately $1,355,000. Boston Advisors LLC acquired a new stake in shares of Aurora Cannabis during the fourth quarter worth $61,000. Finally, TCI Wealth Advisors Inc. acquired a new stake in shares of Aurora Cannabis during the fourth quarter worth $51,000. 8.16% of the stock is currently owned by institutional investors.
About Aurora Cannabis
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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