Aurora Cannabis Inc. (ACB) closed the most recent trading day at $9.80, moving -0.2% from the previous trading session. This move was narrower than the S&P 500’s daily loss of 0.22%. At the same time, the Dow lost 0.78%, and the tech-heavy Nasdaq gained 0.68%.
Prior to today’s trading, shares of the company had lost 6.83% over the past month. This has lagged the Medical sector’s gain of 0.92% and the S&P 500’s gain of 9.15% in that time.
Investors will be hoping for strength from ACB as it approaches 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 should also note any recent changes to analyst estimates for ACB. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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 group has a Zacks Industry Rank of 181, putting it in the bottom 29% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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