Active Stocks: Aurora Cannabis, Inc. [NYSE: ACB], is one of the stocks in the spotlight today. The Canadian producer and distributor of Cannabis products will be releasing Q4 results today, after the market’s close. Excitement around this stock has been building up this week. At yesterday’s close, the stock was up by 4.49% to close the day $6.28 with 13.41 million shares traded. This momentum seems to be building up in pre-market trading. At the time of writing, the stock was in the green pre-market, with gains of 1.11% and rising.
According to Bloomberg, the company has in the past stated that it expects good Q4 numbers on earnings before interest, depreciation, and amortization. However, in its August guidance, the company stated that it was on track to hit its target in the future, but did not make clear reference for Q4 results. Wall Street expects the company to announce an adjusted EPS of C$0.047. Analysts also expect the company to report revenues of C$108 million. This is within the company’s guidance for Q4. In its August guidance, the company announced that it expects C$100 million – C$107 million in revenues. The key factor that analysts expect to impact on revenues is harvests, which may have arrived late and may not reflect in Q4 results.
Traders will be watching to see how this stock will perform once the results are in. In the past, the company has experienced huge swings in profits and losses, which makes it interesting to see how it turns out in Q4.
Looking at the charts, the stock has been on a small uptrend, but is currently trading at key resistance at $6.28. Trader expectations on the upcoming results will greatly influence how it trades in the day. At the moment, the company has a market cap of $5.789 billion and ranks among the world’s largest cannabis companies.