Aurora Cannabis Inc. (ACB) Outpaces Stock Market Gains: What You Should Know
Aurora Cannabis Inc. (ACB) closed the most recent trading day at $9.51, moving +1.06% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1%. At the same time, the Dow added 1.35%, and the tech-heavy Nasdaq gained 0.6%.
Coming into today, shares of the company had lost 12.71% in the past month. In that same time, the Medical sector lost 0.76%, while the S&P 500 gained 4.48%.
Wall Street will be looking for positivity from ACB as it approaches its next earnings report date. Meanwhile, our latest consensus estimate is calling for revenue of $54.37 million, down 36.32% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for ACB. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ACB is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 186, which puts it in the bottom 27% 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.
Click to get this free report
Aurora Cannabis Inc. (ACB): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.