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Aurora Cannabis Inc. (ACB) Outlook: Revisiting The Past For Future Insights

Aurora Cannabis Inc. (NASDAQ:ACB) concluded the trading at $0.98 on Friday, September 15 with a rise of 16.57% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $0.84 with its price kept floating in the range of $0.8819 and $1.06 on the day. Considering stock’s 52-week price range provides that ACB hit a high price of $1.62 and saw its price falling to a low level of $0.43 during that period. Over a period of past 1-month, stock came adding 96.56% in its value.

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With its current market valuation of $448.11 million. Analysts are in estimates of $0 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to -$0.11 for 2024 with estimates of that growing to -$0.07 in next year.

They suggested that in the process company could generate revenue of as low as $47.09 million which could climb up to $47.09 million to hit a high.

In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review ACB stock’s current outlook then short term indicators are assigning it an average of 50% Buy, while medium term indicators are categorizing the stock at an average of 50% Sell. Long term indicators are suggesting an average of 50% Buy for it.

Digging deeper we become aware of the PEG ratio of the ACB stock which is currently positioned at 0. It further provides that stock’s current price level is 76.13% away from its 20-day simple moving average and is 80.52% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 74.39 while volatility remained at 35.96% over the past week which changes to 14.06% when measuring it over the past month. Beta is valued at 2.55, while measure of average true range or ATR is currently at 0.11.

Having a second look at Aurora Cannabis Inc. (NASDAQ:ACB) provides that stock’s average daily trading volume for 3 months was 15.01 million, while it jumped to 72.34 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 376.84 million.

The percentage of outstanding shares held by the insiders is 0.11% while it is 12.49% for the institutional holders. The figures also indicate that as of Aug 30, 2023, number of stock’s short shares was 29.28 million which implies a short ratio of 6.21. This shows down a 7.77% of Short Interest in company’s outstanding shares on the day. In August the standing of shares short improved as it was 30.66 million in the previous month. Addition of 6.53% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.