AdvisorShares Investments LLC Has $8.82 Million Stock Position in SNDL Inc. $SNDL

AdvisorShares Investments LLC increased its stake in shares of SNDL Inc. (NASDAQ:SNDL) by 203.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,292,492 shares of the company’s stock after acquiring an additional 2,208,160 shares during the period. SNDL accounts for about 1.4% of AdvisorShares Investments LLC’s holdings, making the stock its 12th biggest holding. AdvisorShares Investments LLC’s holdings in SNDL were worth $8,824,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. R Squared Ltd raised its stake in shares of SNDL by 296.1% during the 2nd quarter. R Squared Ltd now owns 140,681 shares of the company’s stock worth $170,000 after purchasing an additional 105,161 shares in the last quarter. SkyView Investment Advisors LLC increased its holdings in SNDL by 4.5% during the second quarter. SkyView Investment Advisors LLC now owns 288,301 shares of the company’s stock worth $355,000 after buying an additional 12,467 shares during the last quarter. Tidal Investments LLC raised its position in 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 acquiring an additional 178,622 shares in the last quarter. BNP Paribas Financial Markets raised its position in SNDL by 7.5% during the second quarter. BNP Paribas Financial Markets now owns 4,853,517 shares of the company’s stock worth $5,873,000 after acquiring an additional 338,278 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in SNDL by 78.3% in the second quarter. Qube Research & Technologies Ltd now owns 354,965 shares of the company’s stock valued at $430,000 after acquiring an additional 155,854 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of SNDL in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $4.50.

SNDL Stock Up 4.1%

SNDL stock opened at $1.51 on Friday. The company has a quick ratio of 3.54, a current ratio of 5.04 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average price of $1.70 and a two-hundred day moving average price of $1.99. SNDL Inc. has a one year low of $1.15 and a one year high of $2.89.

SNDL Company Profile

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.