Aurora Cannabis Inc. (NYSE:ACB) is one of the worst performers on the stock market today. At current price of $6.89, the shares have already lost -0.29 points (-4.04% lower) from its previous close of $7.18. Should you buy or avoid them? The stock sets an active trading volume day with a reported 7437214 contracts so far this session. ACB shares had a relatively better volume day versus average trading capacity of 13.19 million shares, but with a 0.98 billion float and a -6.51% run over a week, it’s definitely worth keeping an eye on. ACB share price has been trading recently between $7.18 and $7.48. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $7.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Aurora Cannabis (ACB): Great Prospects That Are Fully Priced Into the Stock Already” and dated July 12, 2019.
During the recent trading session for Aurora Cannabis Inc. (NYSE:ACB), the company witnessed their stock drop by $-0.61 over a week and tumble down $-0.64 from the price 20 days ago. When compared to their established 52-week high of $12.52, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/16/18. The recent low of $4.05 stood for a -44.99% since 08/14/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Aurora Cannabis Inc., the two-week RSI stands at 30.79. This figure suggests that ACB stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ACB readings is similarly very revealing as it has a stochastic reading of 21.09% at this stage. This figure means that ACB share price today is being overbought.
Technical chart claims that Aurora Cannabis Inc. (ACB) would settle between $7.38/share to $7.58/share level. However, if the stock price goes below the $7.08 mark, then the market for Aurora Cannabis Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $6.98 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.27. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Compass Point, assumed coverage of ACB assigning Neutral rating, according to their opinion released on July 08. Stifel, analysts launched coverage of Aurora Cannabis Inc. (NYSE:ACB) stock with a Hold recommendation, according to their flash note issued to investors on June 06. Analysts at Desjardins, made their first call for the equity with a Buy recommendation, according to a research note that dated back to April 26.
ACB equity has an average rating of 2, with the figure leaning towards a bullish end. 13 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 10 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 9 analysts rated Aurora Cannabis Inc. (NYSE:ACB) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, ACB stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 58.14 while for the average stock in the same group, the multiple is 10.08.