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Thursday, September 21, 2023

Will Aphria Inc. (APHA) Find a Support Level Soon?

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Aphria Inc. (APHA) shares are trading at higher $8.42.

To add more color to this target, the company’s high over the last year is $8.68 and the low is $1.95. Over the last 52 weeks, APHA is up 80.30% while the S&P 500 is up 17.73%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, APHA reported a profit of $56.04 million. Aphria Inc. also saw revenues increase to $108.45 million. In addition, APHA has free cash flow of -$64.5 million as of 08-2020. The company’s EBITDA came in at $25.79 million which compares well with its peers.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. APHA has a short ratio of 3.23 and outstanding shares of 289.34M.

Company Outlook

APHA has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 15.86 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.30. Aphria Inc. APHA also noted assets of $1.85 billion at the end of the last quarter. Investors should also keep an eye on sector updates as APHA has historically followed its peers on positive news.

All told, Aphria Inc. APHA has strung together solid data and demonstrated underlying fundamentals. At its current valuation, APHA represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Aphria Inc. APHA is now commanding a market cap of 2.44B and a float of 289.01M. APHA is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of APHA stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in APHA, either long or short, and we have not been compensated for this article.

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