Aurora Cannabis Inc. [ACB] Stock trading around $1.65 per share: What’s Next?

Aurora Cannabis Inc. [NASDAQ: ACB] closed the trading session at $1.65 on 08/08/22. The day’s price range saw the stock hit a low of $1.51, while the highest price level was $1.73. The company report on June 3, 2022 that Aurora Cannabis Repurchases US$20 Million of Convertible Notes.

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Aurora Further Strengthens Balance Sheet with Accretive Debt Reduction.

Aurora Cannabis Inc. (“Aurora” or the “Company”) (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, today announced that it has repurchased an aggregate of approximately $25.3 million (US$20 million) principal amount of its convertible senior notes (“Notes”) at a total cost, including accrued interest, of $24.3 million (US$19.2 million) in cash.

The stocks have a year to date performance of -69.50 percent and weekly performance of 20.44 percent. The stock has been moved at -60.81 percent over the last six months. The stock has performed 18.71 percent around the most recent 30 days and changed -41.28 percent over the most recent 3-months.

If compared to the average trading volume of 11.06M shares, ACB reached to a volume of 14498967 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Aurora Cannabis Inc. [ACB]:

Cantor Fitzgerald have made an estimate for Aurora Cannabis Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 24, 2022. The new note on the price target was released on June 06, 2022, representing the official price target for Aurora Cannabis Inc. stock. On September 03, 2021, analysts decreased their price target for ACB shares from 7.49 to 6.78.

The Average True Range (ATR) for Aurora Cannabis Inc. is set at 0.13, with the Price to Sales ratio for ACB stock in the period of the last 12 months amounting to 2.16. The Price to Book ratio for the last quarter was 0.32, with the Price to Cash per share for the same quarter was set at 1.46.

ACB stock trade performance evaluation

Aurora Cannabis Inc. [ACB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 20.44. With this latest performance, ACB shares gained by 18.71% in over the last four-week period, additionally sinking by -60.81% over the last 6 months – not to mention a drop of -77.46% 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 58.06, with the RSI for the last a single of trading hit 65.49, and the three-weeks RSI is set at 52.26 for Aurora Cannabis Inc. [ACB]. The present Moving Average for the last 50 days of trading for this stock 1.4688, while it was recorded at 1.5520 for the last single week of trading, and 3.9237 for the last 200 days.

Aurora Cannabis Inc. [ACB]: An insightful look at the core fundamentals

Aurora Cannabis Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.80 and a Current Ratio set at 5.90.

Aurora Cannabis Inc. [ACB]: Insider Ownership positions

There are presently around $60 million, or 25.75% 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 9,929,796, which is approximately -13.17% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 6,346,189 shares of the stock with an approximate value of $10.47 million in ACB stocks shares; and TWO SIGMA INVESTMENTS, LP, currently with $3.1 million in ACB stock with ownership of nearly 16021.242% of the company’s market capitalization.

90 institutional holders increased their position in Aurora Cannabis Inc. [NASDAQ:ACB] by around 8,293,151 shares. Additionally, 91 investors decreased positions by around 8,282,311 shares, while 117 investors held positions by with 19,940,446 shares. The mentioned changes placed institutional holdings at 36,515,908 shares, according to the latest SEC report filing. ACB stock had 31 new institutional investments in for a total of 885,290 shares, while 38 institutional investors sold positions of 1,505,317 shares during the same period.


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