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.
Institutional Ownership:
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.
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 $1.00 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.
