Saturday, June 25, 2022

Investing in ACB (Aurora Cannabis Inc.): What You Must Know

Stifel upgraded its Aurora Cannabis Inc. [ACB] rating to a Hold from a a Sell in a research note published on Tuesday. A number of analysts have revised their coverage, including MKM Partners’s analysts, who increased its forecast for the stock in late September from “a Sell” to “a Neutral”. Jefferies also remained covering ACB and has increased its forecast on September 03, 2021 with a “Hold” recommendation from previously “an Underperform” rating. BMO Capital Markets revised its rating on May 14, 2021. It rated ACB as “a Market perform” which previously was an “an Underperform”.


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Price Performance Review of ACB

On Tuesday, Aurora Cannabis Inc. [NASDAQ:ACB] saw its stock jump 4.65% to $1.35. On the same session, the stock had its day’s lowest price of $1.33, but rose to a high of $1.41. Over the last five days, the stock has gained 8.87%. Aurora Cannabis Inc. shares have fallen nearly -75.05% since the year began. Nevertheless, the stocks have fallen -84.95% over the past one year. While a 52-week high of $9.54 was reached on 01/11/22, a 52-week low of $1.21 was recorded on 06/13/22. SMA at 50 days reached $2.5188, while 200 days put it at $4.8173.

Levels Of Support And Resistance For ACB Stock

The 24-hour chart illustrates a support level at 1.3167, which if violated will result in even more drops to 1.2833. On the upside, there is a resistance level at 1.3967. A further resistance level may holdings at 1.4433. The Relative Strength Index (RSI) on the 14-day chart is 32.41, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.1471, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 72.00%. Stochastics %K at 19.03% indicates the stock is a buying.

How much short interest is there in Aurora Cannabis Inc.?

A steep rise in short interest was recorded in Aurora Cannabis Inc. stocks on Apr 28, 2022, growing by 2.35 million shares to a total of 28.0 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 25.65 million shares. There was a rise of 8.39%, which implies that there is a positive sentiment for the stock.

Aurora Cannabis Inc. [ACB] – Who Are The Largest Shareholders?

According to FactSet, Aurora Cannabis Inc.’s share price will average $2.62 in the next year, based on opinions of analysts polled by the firm. This is up nearly 107.75 percent from its previous closing price of $1.29. Analysts expect Aurora Cannabis Inc. stock to reach the higher price of $4.00, while the lowest price estimate is $1.59. However, 11 analysts have rated ACB stock as a Hold in their predictions for 2022.

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