Aurora Cannabis Inc (NASDAQ:ACB) shares, rose in value on Thursday, November 21, with the stock price up by 1.42% to the previous day’s close as strong demand from buyers drove the stock to $4.30.
Actively observing the price movement in the last trading, the stock closed the session at $4.24, falling within a range of $4.195 and $4.41. The value of beta (5-year monthly) was 2.697. Referring to stock’s 52-week performance, its high was $9.35, and the low was $2.84. On the whole, ACB has fluctuated by -27.24% over the past month.
With the market capitalization of Aurora Cannabis Inc currently standing at about $331.14 million, investors are eagerly awaiting this quarter’s results, scheduled for in December.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 329.1M, with a low estimate of 74M and a high estimate of 84.23M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 80.26M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that ACB’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the price of ACB currently trading nearly -14.92% and -20.39% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 32.99, while the 7-day volatility ratio is showing 3.92% which for the 30-day chart, stands at 6.50%. Furthermore, Aurora Cannabis Inc (ACB)’s beta value is 1.88, and its average true range (ATR) is 0.30.
A comparison of Aurora Cannabis Inc (ACB) with its peers suggests the former has fared considerably weaker in the market. ACB showed an intraday change of 1.42% in last session, and over the past year, it shrunk by -7.80%%.
Data on historical trading for Aurora Cannabis Inc (NASDAQ:ACB) indicates that the trading volumes over the past 10 days have averaged 1.23 and over the past 3 months, they’ve averaged 972.87K. According to company’s latest data on outstanding shares, there are 54.88 million shares outstanding.
Nearly 0.42% of Aurora Cannabis Inc’s shares belong to company insiders and institutional investors own 7.27% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 2.81 million shares as on 2024-10-31, resulting in a short ratio of 3.77. The stock has fallen by -9.70% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ACB stock heading into the next quarter.
