This trade activity should not be overlooked: Aurora Cannabis Inc. (ACB)

Aurora Cannabis Inc. (NASDAQ: ACB) stock fell -12.19% on Monday to $0.86 against a previous-day closing price of $0.98. With 42.48 million shares changed hands, the volume of the stock remained heavier than its average volume of 16.45 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $0.9749 whereas the lowest price it dropped to was $0.8500. The 52-week range on ACB shows that it touched its highest point at $1.62 and its lowest point at $0.43 during that stretch. Beta for the stock currently stands at 2.45.

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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 down-trending over the past week, with a drop of -5.25%, but this was up by 67.70% over a month. Three-month performance surged to 59.81% while six-month performance rose 18.22%. The stock lost -43.96% in the past year, while it has lost -6.46% so far this year. A look at the trailing 12-month EPS for ACB yields -0.67 with Next year EPS estimates of -0.09. For the next quarter, that number is -0.07. This implies an EPS growth rate of 92.30% for this year and 36.40% for next year.

Float and Shares Shorts:

At present, 376.84 million ACB shares are outstanding with a float of 376.20 million shares on hand for trading. On Aug 30, 2023, short shares totaled 29.28 million, which was 7.77% higher than short shares on Jul 30, 2023. In addition to Mr. Miguel Martin as the firm’s CEO & Director, Mr. Glen Ibbott serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 12.49% 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 4.29% stake in ACB, the ETFMG Alternative Harvest ETF is the largest stakeholder. A total of 15,194,101 shares are owned by the mutual fund manager. The Global X Cannabis ETF, which owns about 0.80% of ACB stock, is the second-largest Mutual Fund holder. It holds 2,815,948 shares valued at 1.35 million. Horizons Marijuana Life Sciences holds 0.55% of the stake in ACB, owning 1,948,135 shares worth 0.94 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ACB reported revenue of $50.22M and operating income of -$64.42M. The EBITDA in the recently reported quarter was -$61.90M and diluted EPS was -$2.59.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ACB since 0 analysts follow the stock currently. 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 $1.11 and a low target of $0.51, the average target price over the next 12 months is $0.72. Based on these targets, ACB could surge 29.07% to reach the target high and fall by -40.7% to reach the target low. Reaching the average price target will result in a decline of -16.28% 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.

Summary of Insider Activity:

Insiders traded ACB stock several times over the past three months with 2 Buys and 0 Sells. In these transactions, 183,967 shares were bought while 0 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 650,623 while 24,206 shares were sold.

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