Aurora Cannabis Inc. [NASDAQ: ACB] gained 6.28% or 0.34 points to close at $5.75 with a heavy trading volume of 5176906 shares. The company report on December 14, 2021 that Aurora and 22nd Century Group License Foundational Biosynthesis IP to Cronos Group.
Licensing deal set to assist in the advancement of research and development for cannabinoid biosynthesis .
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Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) (“Aurora”), the Canadian company defining the future of cannabinoids worldwide, together with 22nd Century Group, Inc. (NASDAQ: XXII) (“22nd Century”) announced today a three-way non-exclusive agreement to license biosynthesis intellectual property to Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos Group”), intended to assist in the advancement of research and development on the biosynthesis of cannabinoids.
It opened the trading session at $5.51, the shares rose to $5.97 and dropped to $5.45, the range by which the price of stock traded the whole day. The daily chart for ACB points out that the company has recorded -30.81% loss over the past six months. However, it is still -6.68% lower than its most recent low trading price.
If we look at the average trading volume of 5.06M shares, ACB reached to a volume of 5176906 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Aurora Cannabis Inc. [ACB]:
MKM Partners have made an estimate for Aurora Cannabis Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 28, 2021. While these analysts kept the previous recommendation, Jefferies dropped their target price from $7.49 to $6.78. The new note on the price target was released on September 03, 2021, representing the official price target for Aurora Cannabis Inc. stock.
The Average True Range (ATR) for Aurora Cannabis Inc. is set at 0.39, with the Price to Sales ratio for ACB stock in the period of the last 12 months amounting to 5.94. The Price to Book ratio for the last quarter was 0.56, with the Price to Cash per share for the same quarter was set at 1.53.
Trading performance analysis for ACB stock
Aurora Cannabis Inc. [ACB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.20. With this latest performance, ACB shares dropped by -6.35% in over the last four-week period, additionally sinking by -30.81% over the last 6 months – not to mention a drop of -39.60% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ACB stock in for the last two-week period is set at 44.21, with the RSI for the last a single of trading hit 46.45, and the three-weeks RSI is set at 43.90 for Aurora Cannabis Inc. [ACB]. The present Moving Average for the last 50 days of trading for this stock 6.56, while it was recorded at 5.57 for the last single week of trading, and 7.55 for the last 200 days.
Aurora Cannabis Inc. [ACB]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Aurora Cannabis Inc. [ACB] shares currently have an operating margin of -157.48 and a Gross Margin at -73.36. Aurora Cannabis Inc.’s Net Margin is presently recorded at -282.16.
Return on Total Capital for ACB is now -15.16, given the latest momentum, and Return on Invested Capital for the company is -28.10. Return on Equity for this stock declined to -33.04, with Return on Assets sitting at -24.46. When it comes to the capital structure of this company, Aurora Cannabis Inc. [ACB] has a Total Debt to Total Equity ratio set at 19.61. Additionally, ACB Total Debt to Total Capital is recorded at 16.39, with Total Debt to Total Assets ending up at 14.66. Long-Term Debt to Equity for the company is recorded at 17.60, with the Long-Term Debt to Total Capital now at 14.71.
Reflecting on the efficiency of the workforce at the company, Aurora Cannabis Inc. [ACB] managed to generate an average of -$392,966 per employee. Receivables Turnover for the company is 4.44 with a Total Asset Turnover recorded at a value of 0.09.Aurora Cannabis Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.10 and a Current Ratio set at 5.40.
An analysis of insider ownership at Aurora Cannabis Inc. [ACB]
There are presently around $185 million, or 19.66% of ACB stock, in the hands of institutional investors. The top three institutional holders of ACB stocks are: ETF MANAGERS GROUP, LLC with ownership of 11,265,937, which is approximately -4.047% of the company’s market cap and around 0.03% of the total institutional ownership; VANGUARD GROUP INC, holding 6,034,462 shares of the stock with an approximate value of $32.65 million in ACB stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $9.74 million in ACB stock with ownership of nearly -1.096% of the company’s market capitalization.
Positions in Aurora Cannabis Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 106 institutional holders increased their position in Aurora Cannabis Inc. [NASDAQ:ACB] by around 4,276,026 shares. Additionally, 80 investors decreased positions by around 4,108,510 shares, while 121 investors held positions by with 25,759,581 shares. The mentioned changes placed institutional holdings at 34,144,117 shares, according to the latest SEC report filing. ACB stock had 45 new institutional investments in for a total of 1,492,058 shares, while 29 institutional investors sold positions of 961,758 shares during the same period.