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

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Aurora Cannabis Inc (NYSE:ACB) saw a large decrease in short interest in January. As of January 31st, there was short interest totalling 71,026,773 shares, a decrease of 14.3% from the January 15th total of 82,892,198 shares. Based on an average daily trading volume, of 23,169,076 shares, the short-interest ratio is presently 3.1 days.

Separately, GMP Securities reaffirmed a “hold” rating and set a $9.50 target price on shares of Aurora Cannabis in a research report on Tuesday.

A number of large investors have recently made changes to their positions in the stock. QCI Asset Management Inc. NY increased its position in Aurora Cannabis by 4.8% during 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 in the last quarter. Flagship Harbor Advisors LLC acquired a new position in Aurora Cannabis during the 4th quarter valued at about $26,000. Trustcore Financial Services LLC acquired a new position in Aurora Cannabis during the 4th quarter valued at about $33,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Aurora Cannabis during the 4th quarter valued at about $36,000. Finally, Baldwin Brothers Inc. MA acquired a new position in Aurora Cannabis during the 4th quarter valued at about $40,000. 1.27% of the stock is currently owned by institutional investors.

Shares of NYSE:ACB opened at $7.25 on Thursday. Aurora Cannabis has a 1 year low of $4.05 and a 1 year high of $12.52. The stock has a market cap of $7.16 billion and a P/E ratio of 39.95. The company has a current ratio of 6.54, a quick ratio of 5.68 and a debt-to-equity ratio of 0.07.

Aurora Cannabis (NYSE:ACB) last announced its earnings results on Monday, February 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. Aurora Cannabis had a return on equity of 8.57% and a net margin of 224.33%. The company had revenue of $41.00 million for the quarter.

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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.

Read More: Cost of Capital Explained

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