Stock Traders Purchase High Volume of SNDL Call Options (NASDAQ:SNDL)

by · The Markets Daily

SNDL Inc. (NASDAQ:SNDL – Get Free Report) saw unusually large options trading on Tuesday. Traders acquired 4,741 call options on the company. This represents an increase of approximately 371% compared to the average daily volume of 1,007 call options.

Institutional Investors Weigh In On SNDL

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC purchased a new stake in shares of SNDL during the first quarter worth about $28,000. Hilton Capital Management LLC acquired a new stake in SNDL in the 2nd quarter worth approximately $30,000. Oxford Asset Management LLP acquired a new stake in SNDL in the 2nd quarter worth approximately $44,000. Hsbc Holdings PLC purchased a new stake in SNDL during the 1st quarter worth approximately $45,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in SNDL during the 4th quarter worth approximately $45,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SNDL shares. Wall Street Zen downgraded SNDL from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Zacks Research raised SNDL from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, Weiss Ratings upgraded SNDL from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce”.

View Our Latest Stock Report on SNDL

SNDL Stock Up 0.7%

SNDL traded up $0.01 during trading on Tuesday, hitting $1.45. The stock had a trading volume of 287,985 shares, compared to its average volume of 1,824,909. The stock has a 50 day simple moving average of $1.30 and a two-hundred day simple moving average of $1.39. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.11 and a current ratio of 4.76. SNDL has a twelve month low of $1.17 and a twelve month high of $2.89. The company has a market capitalization of $371.94 million, a PE ratio of -24.25 and a beta of 0.96.

SNDL (NASDAQ:SNDL – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $165.94 million for the quarter, compared to analyst estimates of $166.26 million. SNDL had a negative return on equity of 2.01% and a negative net margin of 2.36%. On average, research analysts predict that SNDL will post -0.06 earnings per share for the current year.

About SNDL

(Get Free Report)

SNDL Inc, formerly known as Sundial Growers Inc, is a Canada-based consumer packaged goods company focused on the production, manufacturing and distribution of cannabis products. Headquartered in Calgary, Alberta, SNDL operates multiple cultivation and processing facilities across Canada, including indoor and hybrid greenhouses in British Columbia and Ontario. The company serves both adult-use and medical cannabis markets, supplying provincial distributors as well as operating through its own wholesale and retail networks.

The company’s product portfolio spans dried flower, pre-rolls, vape cartridges, cannabis oils, edibles and infused beverages under a variety of in-house brands.

Recommended Stories