Aurora Cannabis Inc. [ACB] Stock trading around $2.62 per share: What’s Next?


Aurora Cannabis Inc. [NASDAQ: ACB] traded at a high on 05/10/22, posting a 3.56 gain after which it closed the day’ session at $2.62. The company report on May 5, 2022 that Aurora Cannabis Advances Premiumization Strategy by Completing Acquisition of Thrive Cannabis, and its Award-Winning Greybeard Brand, in a Margin Accretive Transaction.

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Aurora Cannabis Inc. (the “Company” or “Aurora”) (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, today announced it has completed its previously announced acquisition of TerraFarma Inc. (parent company of Thrive Cannabis) (“Thrive”) (the “Transaction”) for aggregate initial consideration of $38 million paid in cash and Aurora common shares (“Aurora Shares”), and up to $30 million in potential earnout amounts, payable in cash, Aurora Shares or a combination of both (at the election of Aurora), subject to Thrive achieving certain revenue targets within two years of closing of the Transaction.

The results of the trading session contributed to over 9212781 shares changing hands. Over the past one week, the price volatility of Aurora Cannabis Inc. stands at 9.48% while the volatility over the past one month is 7.24%.

The market cap for ACB stock reached $752.91 million, with 198.21 million shares outstanding and 198.11 million shares in the current float. Compared to the average trading volume of 7.24M shares, ACB reached a trading volume of 9212781 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 0.24, with the Price to Sales ratio for ACB stock in the period of the last 12 months amounting to 3.27. The Price to Book ratio for the last quarter was 0.27, with the Price to Cash per share for the same quarter was set at 1.16.

How has ACB stock performed recently?

Aurora Cannabis Inc. [ACB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.53. With this latest performance, ACB shares dropped by -24.93% in over the last four-week period, additionally sinking by -64.11% over the last 6 months – not to mention a drop of -67.93% 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 33.54, with the RSI for the last a single of trading hit 30.81, and the three-weeks RSI is set at 35.95 for Aurora Cannabis Inc. [ACB]. The present Moving Average for the last 50 days of trading for this stock 3.42, while it was recorded at 2.82 for the last single week of trading, and 5.52 for the last 200 days.

Aurora Cannabis Inc. [ACB]: Deeper insight into the fundamentals

Aurora Cannabis Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.70 and a Current Ratio set at 4.90.

Insider trade positions for Aurora Cannabis Inc. [ACB]

There are presently around $88 million, or 19.76% 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 11,435,872, which is approximately 1.508% of the company’s market cap and around 0.03% of the total institutional ownership; VANGUARD GROUP INC, holding 6,064,243 shares of the stock with an approximate value of $15.34 million in ACB stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $4.09 million in ACB stock with ownership of nearly 2.696% of the company’s market capitalization.

96 institutional holders increased their position in Aurora Cannabis Inc. [NASDAQ:ACB] by around 4,360,688 shares. Additionally, 105 investors decreased positions by around 4,600,928 shares, while 119 investors held positions by with 25,655,501 shares. The mentioned changes placed institutional holdings at 34,617,117 shares, according to the latest SEC report filing. ACB stock had 42 new institutional investments in for a total of 2,031,936 shares, while 49 institutional investors sold positions of 958,584 shares during the same period.