Cannell Capital LLC Buys New Shares in SNDL Inc. $SNDL

Key Points

• Cannell Capital LLC acquired 8.64 million SNDL shares worth approximately $11.7 million, giving it a 3.36% stake and making SNDL its second-largest holding.
• SNDL opened at $1.35, near the lower end of its $1.17–$2.89 52-week range. The company reported a quarterly loss of $0.02 per share and $165.94 million in revenue, slightly below analyst expectations.
• Analyst sentiment is mixed, with ratings split among Buy, Hold, and Sell; MarketBeat lists an average rating of Hold and an average price target of $5.00.

Cannell Capital LLC bought a new position in shares of SNDL Inc. (NASDAQ:SNDL - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,639,381 shares of the company's stock, valued at approximately $11,663,164. SNDL makes up 0.0% of Cannell Capital LLC's holdings, making the stock its 2nd biggest holding. Cannell Capital LLC owned 3.36% of SNDL at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SNDL. Private Advisor Group LLC bought a new stake in shares of SNDL in the 1st quarter worth approximately $28,000. Hilton Capital Management LLC bought a new stake in shares of SNDL during the second quarter valued at approximately $30,000. Oxford Asset Management LLP acquired a new position in shares of SNDL in the second quarter valued at $44,000. Hsbc Holdings PLC acquired a new position in shares of SNDL in the first quarter valued at $45,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in SNDL in the fourth quarter worth $45,000.

SNDL Price Performance

NASDAQ SNDL opened at $1.35 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.11 and a current ratio of 4.76. The stock has a market cap of $348.78 million, a price-to-earnings ratio of -22.58 and a beta of 0.93. The business has a 50 day simple moving average of $1.30 and a 200 day simple moving average of $1.40. SNDL Inc. has a 52-week low of $1.17 and a 52-week high of $2.89.

SNDL (NASDAQ:SNDL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($0.02) earnings per share for the quarter. The company had revenue of $165.94 million during the quarter, compared to the consensus estimate of $166.26 million. SNDL had a negative net margin of 2.36% and a negative return on equity of 2.01%. Analysts anticipate that SNDL Inc. will post -0.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNDL has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of SNDL from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday. Zacks Research upgraded shares of SNDL from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 28th. Finally, Wall Street Zen cut shares of SNDL from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, SNDL has an average rating of "Hold" and an average target price of $5.00.

SNDL 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.

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