SNDL (NASDAQ:SNDL) Trading Up 0.9% – Time to Buy?

SNDL Inc. (NASDAQ:SNDL)’s stock price was up 0.9% during mid-day trading on Friday . The stock traded as high as $1.7750 and last traded at $1.7550. Approximately 909,915 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 2,356,637 shares. The stock had previously closed at $1.74.

Wall Street Analysts Forecast Growth

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

SNDL Stock Up 0.9%

The stock has a market capitalization of $461.18 million, a P/E ratio of -6.75 and a beta of 3.70. The stock has a 50 day moving average price of $2.16 and a 200-day moving average price of $1.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.04 and a quick ratio of 3.54.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Traynor Capital Management Inc. purchased a new position in shares of SNDL in the third quarter worth $27,000. SkyView Investment Advisors LLC grew its holdings in SNDL by 4.5% in the 2nd quarter. SkyView Investment Advisors LLC now owns 288,301 shares of the company’s stock worth $355,000 after acquiring an additional 12,467 shares during the last quarter. National Bank of Canada FI increased its position in shares of SNDL by 102.7% in the first quarter. National Bank of Canada FI now owns 37,231 shares of the company’s stock valued at $52,000 after acquiring an additional 18,864 shares during the period. Quantbot Technologies LP raised its stake in shares of SNDL by 815.0% during the first quarter. Quantbot Technologies LP now owns 21,667 shares of the company’s stock valued at $31,000 after acquiring an additional 19,299 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of SNDL by 6.0% during the third quarter. Bank of America Corp DE now owns 369,369 shares of the company’s stock valued at $990,000 after acquiring an additional 20,931 shares during the last quarter.

SNDL Company Profile

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.