SNDL Target of Unusually Large Options Trading (NASDAQ:SNDL)

SNDL Inc. (NASDAQ:SNDL) saw unusually large options trading activity on Friday. Traders purchased 8,621 call options on the company. This is an increase of 141% compared to the average daily volume of 3,578 call options.

SNDL Price Performance

SNDL opened at $2.21 on Friday. The company has a market capitalization of $580.74 million, a price-to-earnings ratio of -8.50 and a beta of 0.58. The company has a current ratio of 5.04, a quick ratio of 3.54 and a debt-to-equity ratio of 0.11. SNDL has a 12-month low of $1.15 and a 12-month high of $2.89. The business’s fifty day simple moving average is $2.01 and its 200-day simple moving average is $1.90.

SNDL (NASDAQ:SNDL) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.04) EPS for the quarter. The business had revenue of $175.35 million during the quarter, compared to the consensus estimate of $242.98 million. SNDL had a negative net margin of 9.66% and a negative return on equity of 8.28%. On average, equities research analysts anticipate that SNDL will post -0.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SNDL shares. Weiss Ratings restated a “sell (d-)” rating on shares of SNDL in a research note on Wednesday, October 8th. Alliance Global Partners assumed coverage on SNDL in a research report on Wednesday, September 3rd. They issued a “buy” rating and a $5.00 target price for the company. Finally, Wall Street Zen downgraded shares of SNDL from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.50.

Institutional Investors Weigh In On SNDL

A number of institutional investors have recently added to or reduced their stakes in SNDL. Traynor Capital Management Inc. purchased a new position in shares of SNDL during the 3rd quarter valued at about $27,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in SNDL during the first quarter valued at approximately $30,000. Hilton Capital Management LLC purchased a new stake in SNDL in the 2nd quarter worth approximately $30,000. Quantbot Technologies LP grew its stake in shares of SNDL by 815.0% during the 1st quarter. Quantbot Technologies LP now owns 21,667 shares of the company’s stock worth $31,000 after purchasing an additional 19,299 shares during the period. Finally, Oxford Asset Management LLP purchased a new position in shares of SNDL during the 2nd quarter valued at approximately $44,000.

About SNDL

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.