Aurora Cannabis Inc. [NASDAQ: ACB] loss -0.86% or 0.0 points to close at $0.81 with a heavy trading volume of 4070166 shares. The company report on March 2, 2023 that Aurora Launches New Medical Flower Product, Valour – Designed for Veterans, by Veterans.
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Proceeds from Valour sales to support veteran organizations across Canada.
Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), the Canadian company opening the world to cannabis, today announced the launch of Valour, a new cannabis cultivar designed for veterans, by veterans. Five per cent of net profits from the sale of Valour products will be used to support veteran organizations across Canada.
It opened the trading session at $0.8173, the shares rose to $0.8197 and dropped to $0.798, the range by which the price of stock traded the whole day. The daily chart for ACB points out that the company has recorded -41.59% loss over the past six months. However, it is still 0.0% lower than its most recent low trading price.
If we look at the average trading volume of 7.75M shares, ACB reached to a volume of 4070166 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]:
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 0.04, with the Price to Sales ratio for ACB stock in the period of the last 12 months amounting to 1.72. The Price to Book ratio for the last quarter was 0.47, with the Price to Cash per share for the same quarter was set at 0.57.
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 -1.35. With this latest performance, ACB shares dropped by -23.24% in over the last four-week period, additionally sinking by -41.59% over the last 6 months – not to mention a drop of -74.41% 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 34.77, with the RSI for the last a single of trading hit 30.09, and the three-weeks RSI is set at 38.00 for Aurora Cannabis Inc. [ACB]. The present Moving Average for the last 50 days of trading for this stock 0.9313, while it was recorded at 0.8255 for the last single week of trading, and 1.2919 for the last 200 days.
Aurora Cannabis Inc. [ACB]: A deeper dive into fundamental analysis
Aurora Cannabis Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.20 and a Current Ratio set at 4.10.
An analysis of insider ownership at Aurora Cannabis Inc. [ACB]
There are presently around $46 million, or 18.01% 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 10,601,833, which is approximately 0.712% of the company’s market cap and around 0.06% of the total institutional ownership; D. E. SHAW & CO., INC., holding 9,872,609 shares of the stock with an approximate value of $7.96 million in ACB stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $7.55 million in ACB stock with ownership of nearly 199.564% of the company’s market capitalization.
101 institutional holders increased their position in Aurora Cannabis Inc. [NASDAQ:ACB] by around 20,476,030 shares. Additionally, 85 investors decreased positions by around 4,748,975 shares, while 98 investors held positions by with 31,785,942 shares. The mentioned changes placed institutional holdings at 57,010,947 shares, according to the latest SEC report filing. ACB stock had 44 new institutional investments in for a total of 3,604,810 shares, while 41 institutional investors sold positions of 1,189,075 shares during the same period.