SNDL (NASDAQ:SNDL) Trading 6% Higher – Time to Buy?

by · The Cerbat Gem

SNDL Inc. (NASDAQ:SNDL – Get Free Report)’s stock price was up 6% on Tuesday . The stock traded as high as $2.05 and last traded at $2.0350. Approximately 2,382,918 shares changed hands during trading, a decline of 8% from the average daily volume of 2,578,090 shares. The stock had previously closed at $1.92.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SNDL. Wall Street Zen downgraded shares of SNDL from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SNDL in a research report on Wednesday, October 8th. Finally, Alliance Global Partners started coverage on shares of SNDL in a research note on Wednesday, September 3rd. They set a “buy” rating and a $5.00 target price for the company. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $4.50.

Get Our Latest Research Report on SNDL

SNDL Price Performance

The company has a market capitalization of $534.75 million, a PE ratio of -7.87 and a beta of 0.58. The firm’s 50-day moving average is $1.99 and its 200-day moving average is $1.90. The company has a quick ratio of 3.54, a current ratio of 5.04 and a debt-to-equity ratio of 0.11.

SNDL (NASDAQ:SNDL – Get Free Report) last announced its earnings results on Tuesday, November 4th. The company reported ($0.04) EPS for the quarter. SNDL had a negative net margin of 9.66% and a negative return on equity of 8.28%. The business had revenue of $175.35 million for the quarter, compared to the consensus estimate of $242.98 million. Equities analysts predict that SNDL Inc. will post -0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SNDL

A number of institutional investors have recently modified their holdings of SNDL. Tidal Investments LLC increased its position in shares of SNDL by 2.5% during the second quarter. Tidal Investments LLC now owns 7,272,668 shares of the company’s stock worth $8,800,000 after purchasing an additional 178,622 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of SNDL by 7.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,853,517 shares of the company’s stock valued at $5,873,000 after acquiring an additional 338,278 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of SNDL by 718.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 4,622,786 shares of the company’s stock worth $12,325,000 after purchasing an additional 4,057,790 shares in the last quarter. AdvisorShares Investments LLC raised its stake in SNDL by 203.6% in the 3rd quarter. AdvisorShares Investments LLC now owns 3,292,492 shares of the company’s stock valued at $8,824,000 after purchasing an additional 2,208,160 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in SNDL in the 3rd quarter worth approximately $5,039,000.

SNDL Company Profile

(Get Free Report)

SNDL Inc engages in the production, distribution, and sale of cannabis products in Canada. The company operates through Liquor Retail, Cannabis Retail, Cannabis Operations, and Investments segments. It engages in the cultivation, distribution, and sale of cannabis for the adult-use and medical markets; sells wines, beers, and spirits through wholly owned liquor stores; and private sale of recreational cannabis through wholly owned and franchised retail cannabis stores.

Featured Articles