If you can handle volatility, Aurora Cannabis Inc. (NYSE:ACB) is the stock to watch now. The stock closed higher on 07 February. The shares accumulated 0.2 points or 2.64 percent at $7.77 with a heavy trade volume of 27.487 million shares. After opening the session at $7.35, the shares went as high as $7.9 and as low as $7.2777, the range within which the stock’s price traded throughout the day. The firm is left with a market cap of $7.5 billion and now has 965.11 million shares outstanding. Aurora Cannabis Inc. (ACB) stock has gained 54.47 percent of market value in 21 trading days.
ACB stock has a trailing 3-year beta of 0, offering the possibility of a lower rate of return, but also posing less risk. The portion of a company’s profit allocated to each outstanding share of common stock was $0.22 a share in the trailing twelve months. The stock’s value has surged 56.65 percent year to date (YTD) against a decline of -12.53 percent in 12 month’s time. The company’s shares still trade -37.96 percent away from its 1-year high of $12.52 and 99.24 percent up from 52-week low of $3.90. The average consensus rating on the company is 0, on a scale where 5 equates to a unanimous sell rating. In short, the mean analyst recommendations are calling this stock a buy.
Aurora Cannabis Inc. (ACB) will probably climb -100 percent over the next 12 months, according to price target estimates compiled by finviz. Meanwhile, they have set a $16 price as 12-month high target. This represents a whopping 105.92 percent increase from where shares are trading today. The 12-month median price target assigned by the analysts stands at $14, which represents a return potential of 80.18 percent when compared to the closing price of the stock of $7.77 on Thursday, February 07. The lowest price target for the stock is $6 — slightly more than -22.78 percent from ACB’s current share price.
History has shown that shares in Aurora Cannabis Inc. have gone down on 3 different earnings reaction days and are predicted to add 0.03 percent when the company reports upcoming earnings.
The stock is currently hovering around the first support level of $7.4. Below this, the next support is placed in the zone of $7.03. Till the time, the ACB stock trades above this level, bulls have nothing to fear. On momentum oscillators front, ‘RSI’ has touched 64.96 on daily chart, which may remain a cause for concern. If the price breaks below $7.03 level on closing basis, then we may see more profit booking and the stock may show further weakness. On the flipside, hitting the $8.02 mark may result into a pull-back move towards $8.27 level.
Shares of Aurora Cannabis Inc. (ACB) are trading at a P/E ratio of 42.31 times earnings reported for the past 12 months. The industry ACB operates in has an average P/E of 32.33. Its P/E ratio went as low as 58.71X and as high as 58.71 over the 5-year span.