Aurora Cannabis Inc. (ACB) is a Canadian medical cannabis producer headquartered in Edmonton, Canada. The stock has 52-week low of $5.30 and high of $95.76. ACB has market capital of $1.51 billion and trades around $13.37 on NYSE. The stock has average daily trading volume of over 5 million shares. The company is scheduled to report its next quarterly earnings on September 09, 2020 after market hours.
ACB has beta of 1.3, which shows the stock is relatively more volatile and its up over 50 percent during last three months. Wall Street analysts have set average price target of $11.28 for the stock which shows 15.63 percent downside from its current market price. The stock has been trending up recently. John Zamparo, Canadian Imperial Bank of Commerce analyst has set price target of $24 for the stock, which would be double from its current price.
ACB has over 12 percent institutional ownership and 0.15 percent short interest. Analysts are more optimistic about ACB growth and market expansion due to $40 million all stock purchase of Reliva, cannabidiol maker. 24 percent of Wall Street analysts recommend buying shares of CBO while, only 18 percent recommends selling the stock at its current market price and 59 percent recommends holding onto the stock.
Aurora Cannabis Inc. employees more than 2,700 people and was founded in 2006. The stock went public on NYSE on October 23, 2018. The stock previous was trading on Toronto Stock Exchange since July 24, 2017 before going public in the United States. ACB is one of the most famous stocks on Robinhood, and over 465 thousand people hold onto shares of ACB.
A number of analysts are concern that other producer could imitate and produce cannabis and tighten the market space for ACB. While many analysts still believe there is room for growth for the stock due to its expansion to European markets including getting into Denmark and Portugal.