Aurora Cannabis Inc. (NASDAQ:ACB) price is hovering higher on Tuesday, September 19, jumping 4.86% above its previous close.
A look at today’s price movement shows that the recent level at last check reads $0.86, with intraday deals fluctuating between $0.85 and $0.9749. The company’s 5Y monthly beta was ticking 3.02. Taking into account the 52-week price action we note that the stock hit a 52-week high of $1.62 and 52-week low of $0.43. The stock added 77.36% on its value in the past month.
Aurora Cannabis Inc., which has a market valuation of $395.47 million, is expected to release its quarterly earnings report Sep 18, 2023 – Sep 22, 2023.
Staying with the analyst view, there is a consensus estimate of $198.47 million for the company’s annual revenue in 2024.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give ACB a short term outlook of 50% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as 50% Buy.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 8 analysts have assigned ACB a recommendation rating as follows: 8 rate it as a Hold; 0 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the Aurora Cannabis Inc. (ACB) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Hold, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
The overview shows that ACB’s price is at present 51.06% off the SMA20 and 61.72% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 65.84, with weekly volatility standing at 25.49%. The indicator jumps to 14.53% when calculated based on the past 30 days. Aurora Cannabis Inc. (NASDAQ:ACB)’s beta value is holding at 2.48, while the average true range (ATR) indicator is currently reading 0.11. Considering analysts have assigned the stock a price target range of $0.51-$1.11 as the low and high respectively, we find the trailing 12-month average consensus price target to be $0.72. Based on this estimate, we see that today’s price at last check is roughly 43.33% off the estimated low and -23.33% off the forecast high. Investors will no doubt be excited to see the share price rise to $0.61, which is the median consensus price, and at that level ACB would be 32.22% from recent price.
An analysis of the Aurora Cannabis Inc. (NASDAQ:ACB) stock in terms of its daily trading volume indicates that the 3-month average is 17.11 million. However, this figure increases on the past 10-day timeline to an average of 83.06 million.
Current records show that the company has 376.84M in outstanding shares. The insiders’ percentage holdings are 0.11% of outstanding shares while the percentage share held by institutions stands at 12.49%. The stats also highlight that short interest as of Aug 30, 2023, stood at 29.28 million shares, which puts the short ratio at the time at 6.21. From this we can glean that short interest is 7.77% of company’s current outstanding shares. Notably, we see that shares short in August fall slightly given the previous month’s figure stood at 30.66 million. But the -1.92% downside, the stock’s price has registered year-to-date as of today’s value, will likely reignite investor interest given the prospect of it rallying even higher.