Can Aurora Cannabis reverse slide on Q3 results for FY23?

Aurora Cannabis (NASDAQ:ACB) will report its Q3 results for fiscal 2023 on Wednesday before the opening bell to an investor base waiting for the Canadian cannabis player to reverse course after years of underperformance.

After reaching a peak of over $18 per share in May 2021, ACB has lost almost all its value to trade slightly above $0.50. The company's financials have also disappointed Wall Street, with full-year earnings and revenue falling short of consensus consecutively.

The Edmonton-based firm's quarterly earnings have missed forecasts for five consecutive quarters.

Its shares lost ~6% in February even as its Q2 topline stood ahead of expectations after three successive misses, and the revenue boost cut the net loss ~11% amid forex gains and lower operating expenditure.

However, indicating an overall rating of Hold, Wall Street analysts remain optimistic about Aurora Cannabis (ACB). While there are no sell ratings on the stock, nine analysts have issued a Hold rating, and one has even given a Buy recommendation.

Notably, in line with SA's Quant Ratings, Seeking Alpha analysts have issued a Strong Sell on ACB. Still, Seeking Alpha analyst Principal Investor remained bullish on the company in February, citing its long-term prospects.

Read more on Aurora Cannabis

Aurora Cannabis repurchases $16.6M of senior notes to save on interest payments

Aurora Cannabis: Highly Leveraged Capital Structure, Poor Profitability