Aurora Cannabis Inc. (NASDAQ:ACB) Sees Large Decrease in Short Interest

Aurora Cannabis Inc. (NASDAQ:ACB) was the recipient of a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 3,840,000 shares, a decline of 7.0% from the June 15th total of 4,130,000 shares. Based on an average daily trading volume, of 4,650,000 shares, the days-to-cover ratio is currently 0.8 days. Approximately 7.1% of the shares of the company are short sold.

Aurora Cannabis Stock Performance

Shares of ACB opened at $5.94 on Thursday. The firm has a market cap of $324.03 million, a PE ratio of -4.24 and a beta of 1.86. The stock’s fifty day moving average price is $5.92 and its two-hundred day moving average price is $5.14. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.42 and a quick ratio of 1.93. Aurora Cannabis has a 1 year low of $2.84 and a 1 year high of $11.50.

Aurora Cannabis (NASDAQ:ACB) last announced its quarterly earnings results on Thursday, June 20th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.29. The company had revenue of $49.98 million during the quarter, compared to analysts’ expectations of $51.28 million. Aurora Cannabis had a negative return on equity of 9.34% and a negative net margin of 26.97%. On average, equities research analysts forecast that Aurora Cannabis will post -0.5 EPS for the current year.

Hedge Funds Weigh In On Aurora Cannabis

Several hedge funds have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC purchased a new position in Aurora Cannabis during the fourth quarter worth about $42,000. Headlands Technologies LLC purchased a new position in Aurora Cannabis during the first quarter worth about $166,000. Mackenzie Financial Corp purchased a new position in Aurora Cannabis during the fourth quarter worth about $98,000. Cetera Advisors LLC purchased a new position in Aurora Cannabis during the first quarter worth about $59,000. Finally, Baader Bank Aktiengesellschaft grew its position in Aurora Cannabis by 121.1% during the second quarter. Baader Bank Aktiengesellschaft now owns 22,789 shares of the company’s stock worth $100,000 after buying an additional 12,481 shares in the last quarter. 47.63% of the stock is currently owned by hedge funds and other institutional investors.

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.