Aurora Cannabis Inc. (NASDAQ: ACB) stock jumped 2.93% on Friday to $0.97 against a previous-day closing price of $0.94. With 6.27 million shares changed hands, the volume of the stock remained lighter than its average volume of 11.42 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $0.9700 whereas the lowest price it dropped to was $0.9407. The 52-week range on ACB shows that it touched its highest point at $5.11 and its lowest point at $0.82 during that stretch. Beta for the stock currently stands at 2.97.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ACB was up-trending over the past week, with a rise of 1.23%, but this was up by 0.51% over a month. Three-month performance dropped to -9.50% while six-month performance fell -36.71%. The stock lost -80.08% in the past year, while it has gained 4.95% so far this year. A look at the trailing 12-month EPS for ACB yields -7.75 with Next year EPS estimates of -0.22. For the next quarter, that number is -0.07. This implies an EPS growth rate of -95.30% for this year and 39.30% for next year.
Float and Shares Shorts:
At present, 300.44 million ACB shares are outstanding with a float of 275.89 million shares on hand for trading. On Oct 13, 2022, short shares totaled 33.25 million, which was 11.07% higher than short shares on Sep 14, 2022. In addition to Mr. Miguel Martin as the firm’s CEO & Director, Mr. Glen Ibbott serves as its Chief Financial Officer.
Through their ownership of 23.72% of ACB’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of ACB, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 3.32% stake in ACB, the ETFMG Alternative Harvest ETF is the largest stakeholder. A total of 10,753,770 shares are owned by the mutual fund manager. The Global X Cannabis ETF, which owns about 0.60% of ACB stock, is the second-largest Mutual Fund holder. It holds 1,930,143 shares valued at 1.78 million. Horizons Marijuana Life Sciences holds 0.33% of the stake in ACB, owning 1,053,712 shares worth 0.97 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ACB since 12 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 10 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ACB analysts setting a high price target of $2.26 and a low target of $0.91, the average target price over the next 12 months is $1.39. Based on these targets, ACB could surge 132.99% to reach the target high and fall by -6.19% to reach the target low. Reaching the average price target will result in a growth of 43.3% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ACB will report FY 2024 earnings on 09/21/2022. Analysts have provided yearly estimates in a range of -$0.05 being high and -$0.27 being low. For ACB, this leads to a yearly average estimate of -$0.16. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Aurora Cannabis Inc. surprised analysts by -$1.86 when it reported -$1.99 EPS against a consensus estimate of -$0.13. The surprise factor in the prior quarter was -$3.47. Based on analyst estimates, the high estimate for the next quarter is -$0.04 and the low estimate is -$0.08. The average estimate for the next quarter is thus -$0.05.