Canaccord Genuity lifts Aurora Cannabis Inc [ACB] price estimate. Who else is bullish?

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Aurora Cannabis Inc [NASDAQ: ACB] slipped around -0.72 points on Monday, while shares priced at $4.14 at the close of the session, down -14.81%. The company report on March 20, 2024 at 7:15 AM that Aurora Cannabis Achieves Australia’s TGA GMP Certification, Setting Global Standard for Quality and Compliance.

Milestone Achievement Signals Company’s Commitment to Solidifying its Leadership in the Australian Market.

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Compared to the average trading volume of 1.29M shares, ACB reached a trading volume of 8748507 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]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ACB shares is $5.79 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ACB stock is a recommendation set at 2.43. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Canaccord Genuity have made an estimate for Aurora Cannabis Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 09, 2024. The new note on the price target was released on September 21, 2022, representing the official price target for Aurora Cannabis Inc stock.

The Average True Range (ATR) for Aurora Cannabis Inc is set at 0.37, with the Price to Sales ratio for ACB stock in the period of the last 12 months amounting to 0.32. The Price to Book ratio for the last quarter was 0.50, with the Price to Cash per share for the same quarter was set at 10.09.

How has ACB stock performed recently?

Aurora Cannabis Inc [ACB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.89. With this latest performance, ACB shares gained by 26.99% in over the last four-week period, additionally sinking by -44.88% over the last 6 months – not to mention a drop of -41.35% 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 58.90, with the RSI for the last a single of trading hit 61.05, and the three-weeks RSI is set at 56.15 for Aurora Cannabis Inc [ACB]. The present Moving Average for the last 50 days of trading for this stock 3.71, while it was recorded at 4.06 for the last single week of trading, and 4.90 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 2.45 and a Current Ratio set at 3.79.

Earnings analysis for Aurora Cannabis Inc [ACB]

With the latest financial reports released by the company, Aurora Cannabis Inc posted -1.47/share EPS, while the average EPS was predicted by analysts to be reported at -0.59/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -149.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ACB.

Insider trade positions for Aurora Cannabis Inc [ACB]

The top three institutional holders of ACB stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ACB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ACB stock with ownership which is approximately 5.8325%.

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