Aurora Cannabis continues to find success

Aurora Cannabis continues to find success

Last Friday saw more investor interest in the company

Aurora Cannabis (TSE: ACB) has been on a roll since the start of the year. Increased production, new acquisitions and supply deals and lower costs are making it a favorite target for investors and the trend continues. Last Friday marked the end of another successful week, as the company continues to expand and strengthen its market position against the competition.

Friday saw Aurora’s high volume day increase from a day earlier. Trading activity reached 77,869,325 shares from the 5-day average total of 65,606,875 daily shares. As the market opened Friday morning, Aurora was trading at $8.98 and it continued to increase throughout the day. It finally closed at $9.61 for a 6.9% daily gain.

Several industry analysts have given Aurora an “outperform” rating. They add that there are at least 7.49% in shares still outstanding that are currently legally short sold and point out that, last month, the number of shares of the corporation increased by 32.55%. Since the beginning of 2019, Aurora’s price has increased 93.75% and more financial advisors are suggesting that the company needs to be added to investors’ portfolios.

Not everyone is convinced, however. The company has been tagged a $0 price target on the Street and the stock has been trading about 23.27% lower than its 52-week high. Despite the negative view, it currently is up 3.49% to $9.94 on the day.

Aurora has seen considerable recovery, though. It has bounced back 146.42% from its most recent 52-week low and volatility, at about 6.05%, remains unchanged. Looking out to the monthly performance, the volatility drops to 5.5% and the share price is above the 20-day moving average and maintaining itself around 26.31%. Over the past five market sessions, Aurora’s stock has reported gains of 24%, meaning that the overall gains – when compared to the 200-day moving average of $7.21 – are up 41.1%.