In the latest trading session, 2.22 million Aurora Cannabis Inc (NASDAQ:ACB) shares changed hands as the company’s beta touched 2.43. With the company’s most recent per share price at $0.47 changing hands around $0.01 or 2.38% at last look, the market valuation stands at $205.81M. ACB’s current price is a discount, trading about -214.89% off its 52-week high of $1.48. The share price had its 52-week low at $0.41, which suggests the last value was 12.77% up since then. When we look at Aurora Cannabis Inc’s average trading volume, we note the 10-day average is 7.16 million shares, with the 3-month average coming to 21.52 million.
Analysts gave the Aurora Cannabis Inc (ACB) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.89. If we narrow down to specifics, the data shows that 0 out of 9 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 8 recommended ACB as a Hold, 0 felt it is a Buy and 0 rated the stock as Underweight. Aurora Cannabis Inc’s EPS for the current quarter is expected to be -$0.03.
Aurora Cannabis Inc (NASDAQ:ACB) trade information
Instantly ACB is in green as seen in intraday trades today. With action 0.47%, the performance over the past five days has been green. The jump to weekly highs of 0.4935 on Friday, 11/17/23 added 2.38% to the stock’s daily price. The company’s shares are showing year-to-date downside of -48.70%, with the 5-day performance at 0.47% in the green. However, in the 30-day time frame, Aurora Cannabis Inc (NASDAQ:ACB) is 6.07% up. Looking at the short shares, we see there were 39.21 million shares sold at short interest cover period of 4.46 days.
The consensus price target for the stock as assigned by Wall Street analysts is $0.68, meaning bulls need an upside of 30.88% from its recent market value. According to analyst projections, ACB’s forecast low is $0.51 with $1.00 as the target high. To hit the forecast high, the stock’s price needs a -112.77% plunge from its current level, while the stock would need to soar -8.51% for it to hit the projected low.
Aurora Cannabis Inc (ACB) estimates and forecasts
Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Aurora Cannabis Inc will rise 76.90%, while the growth in revenue is estimated to hit 80.00% for the next quarter.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $46.11 million. 5 analysts are of the opinion that Aurora Cannabis Inc’s revenue for the quarter ending Mar 2024 will be $48.98 million. The estimates for the next quarter sales put growth at 4.50%.
The 2023 estimates are for Aurora Cannabis Inc earnings to increase by 80.71%.
Aurora Cannabis Inc is expected to release its next quarterly earnings report on November 09.
Aurora Cannabis Inc (NASDAQ:ACB)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.11% of Aurora Cannabis Inc shares while 12.49% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 12.51%. There are 12.49% institutions holding the Aurora Cannabis Inc stock share, with Verition Fund Management, LLC the top institutional holder. As of Jun 29, 2023, the company held 2.60% of the shares, roughly 12.34 million ACB shares worth $6.6 million.
ETF Managers Group, LLC holds the second largest percentage of outstanding shares, with 1.76% or 8.35 million shares worth $5.82 million as of Mar 30, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were ETF Managers Tr-EFTMG Alternative Harvest ETF and Global X Fds-The Global X Cannabis ETF. With 11.39 million shares estimated at $6.09 million under it, the former controlled 2.40% of total outstanding shares. On the other hand, Global X Fds-The Global X Cannabis ETF held about 0.61% of the shares, roughly 2.89 million shares worth around $1.69 million.