Aurora Cannabis Inc (NASDAQ: ACB): Investing Tips And Trends

In the latest trading session, 1.95 million Aurora Cannabis Inc (NASDAQ:ACB) shares changed hands as the company’s beta touched 2.39. With the company’s most recent per share price at $0.42 changed hands at -$0.01 or -2.53% at last look, the market valuation stands at $201.45M. ACB’s current price is a discount, trading about -173.81% off its 52-week high of $1.15. The share price had its 52-week low at $0.37, which suggests the last value was 11.9% up since then. When we look at Aurora Cannabis Inc’s average trading volume, we note the 10-day average is 5.65 million shares, with the 3-month average coming to 1.21.

Aurora Cannabis Inc (NASDAQ:ACB) trade information

Instantly ACB was in red as seen in intraday trades today. With action 11.39%, the performance over the past five days has been green. The drop to weekly highs of 0.4392 subtracted -2.53% to the stock’s daily price. The company’s shares are showing year-to-date downside of -11.11%, with the 5-day performance at 11.39% in the green. However, in the 30-day time frame, Aurora Cannabis Inc (NASDAQ:ACB) is -5.93% down. Looking at the short shares, we see there were 36.18 million shares sold at short interest cover period of 6.15 days.

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Aurora Cannabis Inc (ACB) estimates and forecasts

Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Aurora Cannabis Inc will rise 93.30%, while the growth in revenue is estimated to hit 83.30% for the next quarter.

Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $51.09 million. 3 analysts are of the opinion that Aurora Cannabis Inc’s revenue for the quarter ending Jun 2024 will be $62.07 million. The company’s revenue for the corresponding quarters a year ago was $46.86 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 9.00%.

Aurora Cannabis Inc (NASDAQ:ACB)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.03% of Aurora Cannabis Inc shares while 9.00% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 9.00%. There are 9.00% 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.

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