Canaccord Genuity slashes price target on Aurora Cannabis Inc. [ACB] – find out why.

Aurora Cannabis Inc. [NASDAQ: ACB] slipped around -0.06 points on Monday, while shares priced at $1.04 at the close of the session, down -5.45%. The company report on October 18, 2022 that Aurora Cannabis Announces Mailing of Management Information Circular for the Annual and Special Meeting of Shareholders.

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Aurora Cannabis Inc. (the “Company” or “Aurora”) (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, is pleased to announce that the Company recently filed its management information circular (the “Circular”) and related proxy materials (together with the Circular the “Meeting Materials”) in advance of its annual and special meeting of shareholders (the “Meeting”) scheduled for November 14, 2022.

Aurora Cannabis Inc. stock is now -80.78% down from its year-to-date (YTD) trading value. ACB Stock saw the intraday high of $1.11 and lowest of $1.03 per share. The company’s 52-week high price is 8.69, which means current price is +6.11% above from all time high which was touched on 01/11/22.

Compared to the average trading volume of 10.85M shares, ACB reached a trading volume of 8169670 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]?

Canaccord Genuity have made an estimate for Aurora Cannabis Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on September 21, 2022. The new note on the price target was released on June 24, 2022, representing the official price target for Aurora Cannabis Inc. stock.

The Average True Range (ATR) for Aurora Cannabis Inc. is set at 0.10, with the Price to Sales ratio for ACB stock in the period of the last 12 months amounting to 1.91. The Price to Book ratio for the last quarter was 0.39, with the Price to Cash per share for the same quarter was set at 1.08.

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 -6.31. With this latest performance, ACB shares dropped by -13.33% in over the last four-week period, additionally sinking by -66.45% over the last 6 months – not to mention a drop of -85.29% 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 38.88, with the RSI for the last a single of trading hit 37.40, and the three-weeks RSI is set at 40.33 for Aurora Cannabis Inc. [ACB]. The present Moving Average for the last 50 days of trading for this stock 1.3666, while it was recorded at 1.0840 for the last single week of trading, and 2.5382 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 4.20 and a Current Ratio set at 5.10.

Insider trade positions for Aurora Cannabis Inc. [ACB]

There are presently around $52 million, or 23.74% 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 10,526,850, which is approximately 6.013% of the company’s market cap and around 0.07% of the total institutional ownership; VANGUARD GROUP INC, holding 7,118,236 shares of the stock with an approximate value of $7.4 million in ACB stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $3.4 million in ACB stock with ownership of nearly 613.53% of the company’s market capitalization.

Positions in Aurora Cannabis Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 97 institutional holders increased their position in Aurora Cannabis Inc. [NASDAQ:ACB] by around 16,039,807 shares. Additionally, 70 investors decreased positions by around 3,411,886 shares, while 122 investors held positions by with 30,901,530 shares. The mentioned changes placed institutional holdings at 50,353,223 shares, according to the latest SEC report filing. ACB stock had 27 new institutional investments in for a total of 2,880,214 shares, while 28 institutional investors sold positions of 524,919 shares during the same period.


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