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Aurora Cannabis Inc. (ACB) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·2 min read

Aurora Cannabis Inc. (ACB) closed the most recent trading day at $10.02, moving -1.96% from the previous trading session. This change lagged the S&P 500's 0.8% loss on the day. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 1.69%.

Coming into today, shares of the company had lost 15.4% in the past month. In that same time, the Medical sector gained 3.48%, while the S&P 500 gained 5.66%.

ACB will be looking to display strength as it nears its next earnings release. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $54.37 million, down 36.32% from the year-ago period.

Investors might also notice recent changes to analyst estimates for ACB. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.38% lower. ACB is currently a Zacks Rank #3 (Hold).

The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 192, putting it in the bottom 25% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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