Aurora Cannabis Inc. (NASDAQ:ACB) Short Interest Up 60.2% in April

Aurora Cannabis Inc. (NASDAQ:ACB) was the target of a significant 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. Based on an average trading volume of 5,730,000 shares, the days-to-cover ratio is presently 1.4 days. Approximately 52.6% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group raised shares of Aurora Cannabis from a “hold” rating to a “buy” rating in a report on Friday, February 9th.

Aurora Cannabis Price Performance

NASDAQ ACB opened at $6.70 on Monday. The stock has a market cap of $365.42 million, a price-to-earnings ratio of -2.31 and a beta of 2.36. Aurora Cannabis has a 52-week low of $2.84 and a 52-week high of $11.50. The business has a 50 day simple moving average of $4.69 and a 200 day simple moving average of $4.59. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.45 and a current ratio of 3.79.

Aurora Cannabis (NASDAQ:ACB) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.10). The company had revenue of $53.34 million for the quarter, compared to the consensus estimate of $45.94 million. Aurora Cannabis had a negative return on equity of 23.27% and a negative net margin of 48.82%. Analysts anticipate that Aurora Cannabis will post -0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Aurora Cannabis during the fourth quarter valued at about $42,000. Mackenzie Financial Corp bought a new stake in Aurora Cannabis during the fourth quarter worth about $98,000. Toronto Dominion Bank lifted its stake in Aurora Cannabis by 219.4% during the third quarter. Toronto Dominion Bank now owns 62,943 shares of the company’s stock worth $37,000 after purchasing an additional 43,236 shares during the last quarter. MMCAP International Inc. SPC bought a new stake in shares of Aurora Cannabis in the 3rd quarter valued at about $4,659,000. Finally, Cambria Investment Management L.P. grew its holdings in shares of Aurora Cannabis by 115.5% during the 3rd quarter. Cambria Investment Management L.P. now owns 386,365 shares of the company’s stock worth $226,000 after acquiring an additional 207,095 shares during the period. 47.63% of the stock is currently owned by institutional investors and hedge funds.

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.