Aurora Cannabis Inc (NASDAQ: ACB) stock fell -0.58% on Friday to $0.46 against a previous-day closing price of $0.47. With 4.48 million shares changed hands, the volume of the stock remained lighter than its average volume of 21.52 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $0.4690 whereas the lowest price it dropped to was $0.4549. The 52-week range on ACB shows that it touched its highest point at $1.48 and its lowest point at $0.41 during that stretch. It currently has a 1-year price target of $0.68. Beta for the stock currently stands at 2.44.
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 -1.64%, but this was up by 0.50% over a month. Three-month performance dropped to -7.17% while six-month performance fell -30.78%. The stock lost -68.12% in the past year, while it has lost -49.89% so far this year. A look at the trailing 12-month EPS for ACB yields 0.80 with Next year EPS estimates of -0.05. For the next quarter, that number is -0.02. This implies an EPS growth rate of 80.71% for this year and 49.11% for next year.
Float and Shares Shorts:
At present, 434.84 million ACB shares are outstanding with a float of 433.52 million shares on hand for trading. On Oct 30, 2023, short shares totaled 39.21 million, which was 9.12% higher than short shares on Sep 28, 2023. 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 12.49% of ACB’s outstanding shares, institutional investors have minority control over the company. With a 3.10% stake in ACB, the ETFMG Alternative Harvest ETF is the largest stakeholder. A total of 14,662,101 shares are owned by the mutual fund manager. The Global X Cannabis ETF, which owns about 0.62% of ACB stock, is the second-largest Mutual Fund holder. It holds 2,919,796 shares valued at 1.29 million. Horizons Marijuana Life Sciences holds 0.40% of the stake in ACB, owning 1,906,419 shares worth 0.84 million.
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 $1.00 and a low target of $0.51, the average target price over the next 12 months is $0.68. Based on these targets, ACB could surge 117.39% to reach the target high and rise by 10.87% to reach the target low. Reaching the average price target will result in a growth of 47.83% from current levels.
Summary of Insider Activity:
Insiders traded ACB stock several times over the past three months with 4 Buys and 3 Sells. In these transactions, 783,031 shares were bought while 89,246 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 7 over the past year. The total number of shares bought during that period was 1,348,761 while 111,140 shares were sold.