BNP Paribas Financial Markets Invests $7.36 Million in SNDL Inc. (NASDAQ:SNDL)

BNP Paribas Financial Markets bought a new stake in shares of SNDL Inc. (NASDAQ:SNDL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,110,288 shares of the company's stock, valued at approximately $7,357,000. BNP Paribas Financial Markets owned about 1.56% of SNDL as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Newman Dignan & Sheerar Inc. raised its position in shares of SNDL by 18.4% in the 4th quarter. Newman Dignan & Sheerar Inc. now owns 64,420 shares of the company's stock valued at $115,000 after purchasing an additional 10,000 shares during the last quarter. Invesco Ltd. increased its stake in SNDL by 1.3% during the 4th quarter. Invesco Ltd. now owns 806,812 shares of the company's stock valued at $1,444,000 after purchasing an additional 10,134 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of SNDL in the fourth quarter worth $25,000. EntryPoint Capital LLC purchased a new position in shares of SNDL in the fourth quarter worth $32,000. Finally, National Bank of Canada FI acquired a new stake in shares of SNDL during the fourth quarter worth $33,000.

Analyst Upgrades and Downgrades

Separately, ATB Capital upped their target price on SNDL from $3.50 to $4.00 in a research report on Wednesday, March 19th.

SNDL Stock Performance

Shares of NASDAQ:SNDL traded up $0.07 during trading on Friday, hitting $1.35. The stock had a trading volume of 2,281,083 shares, compared to its average volume of 2,144,711. The company has a quick ratio of 4.16, a current ratio of 5.61 and a debt-to-equity ratio of 0.10. SNDL Inc. has a 12-month low of $1.24 and a 12-month high of $2.75. The stock has a market capitalization of $354.75 million, a price-to-earnings ratio of -4.35 and a beta of 3.68. The stock has a 50-day simple moving average of $1.42 and a two-hundred day simple moving average of $1.70.

SNDL (NASDAQ:SNDL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.02. The company had revenue of $142.38 million during the quarter, compared to analyst estimates of $214.60 million. SNDL had a negative net margin of 12.11% and a negative return on equity of 8.27%. On average, equities research analysts expect that SNDL Inc. will post -0.09 earnings per share for the current fiscal year.

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.