Aurora Cannabis (ACB, $6.85) misses fiscal Q3 expectations
Aurora Cannabis posted its fiscal third quarter results that fell short of analysts’ expectations.
For the third quarter ended March 31, the cannabis company reported a loss of -C$0.85 a share, wider than the -C$0.25 a share loss anticipated by analysts polled by FactSet. The company’s revenue came in at C$55.2 million, compared to C$68.7 million expected by analysts.
Aurora also said that it plans to file for a new US$300 million at-the-market stock sale program. According to the company, the program would “provide maximum flexibility to pursue select acquisitions going forward, including within the U.S.”
Momentum Indicator for ACB turns negative, indicating new downward trend
ACB saw its Momentum Indicator move below the 0 level on May 23, 2023. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 88 similar instances where the indicator turned negative. In of the 88 cases, the stock moved further down in the following days. The odds of a decline are at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Moving Average Convergence Divergence Histogram (MACD) for ACB turned negative on May 26, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 45 similar instances when the indicator turned negative. In of the 45 cases the stock turned lower in the days that followed. This puts the odds of success at .
ACB moved below its 50-day moving average on May 23, 2023 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ACB declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
ACB broke above its upper Bollinger Band on May 05, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for ACB entered a downward trend on May 17, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where ACB's RSI Oscillator exited the oversold zone, of 47 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 5 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a +1 3-day Advance, the price is estimated to grow further. Considering data from situations where ACB advanced for three days, in of 214 cases, the price rose further within the following month. The odds of a continued upward trend are .
Fundamental Analysis (Ratings)
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.427) is normal, around the industry mean (42.346). P/E Ratio (0.000) is within average values for comparable stocks, (53.681). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (2.722). ACB has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.026). P/S Ratio (0.901) is also within normal values, averaging (55.313).
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating slightly worse than average price growth. ACB’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. ACB’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 93, placing this stock worse than average.
Notable companies
Industry description
Market Cap
High and low price notable news
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a licensed producer of medical marijuana in Canada
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ACB and
Correlation & Price change
A.I.dvisor indicates that over the last year, ACB has been closely correlated with CGC. These tickers have moved in lockstep 77% of the time. This A.I.-generated data suggests there is a high statistical probability that if ACB jumps, then CGC could also see price increases.
| Ticker / NAME | Correlation To ACB | 1D Price Change % | ||
|---|---|---|---|---|
| ACB | 100% | +2.32% | ||
| CGC - ACB | 77% Closely correlated | -1.17% | ||
| OGI - ACB | 72% Closely correlated | +0.67% | ||
| TLRY - ACB | 72% Closely correlated | +1.18% | ||
| CRON - ACB | 66% Loosely correlated | +0.57% | ||
| SNDL - ACB | 65% Loosely correlated | +2.07% | ||
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