Traders Purchase Large Volume of SNDL Call Options (NASDAQ:SNDL)

Key Points

• Investors showed a strong bullish sentiment toward SNDL Inc. by purchasing 8,720 call options, marking a 291% increase in volume compared to typical trading levels.
• SNDL's stock price fluctuated around $2.01 during trading, with a market capitalization of $526.87 million and notable financial metrics indicating a debt-to-equity ratio of 0.11.
• Institutional investors have been actively trading SNDL, with multiple funds increasing their stakes, including Quantbot Technologies LP raising theirs by 815% in the first quarter.

SNDL Inc. (NASDAQ:SNDL - Get Free Report) was the target of unusually large options trading on Tuesday. Stock investors purchased 8,720 call options on the company. Thisisanincreaseof291% compared to the typical volume of 2,231 call options.

Hedge Funds Weigh In On SNDL

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in shares of SNDL in the 4th quarter valued at about $7,357,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of SNDL by 41.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,095,205 shares of the company's stock valued at $3,750,000 after buying an additional 612,495 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in shares of SNDL in the 4th quarter valued at about $584,000. Boothbay Fund Management LLC purchased a new position in shares of SNDL in the 4th quarter valued at about $404,000. Finally, OneDigital Investment Advisors LLC purchased a new position in shares of SNDL in the 4th quarter valued at about $364,000.

SNDL Trading Down 4.3%

Shares of NASDAQ:SNDL traded down $0.09 during midday trading on Friday, reaching $2.02. 5,196,449 shares of the company's stock were exchanged, compared to its average volume of 4,148,273. The firm's 50 day simple moving average is $1.48 and its two-hundred day simple moving average is $1.49. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.03 and a quick ratio of 3.36. The stock has a market cap of $530.82 million, a price-to-earnings ratio of -7.48 and a beta of 3.57. SNDL has a fifty-two week low of $1.15 and a fifty-two week high of $2.40.

SNDL (NASDAQ:SNDL - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.05. SNDL had a negative return on equity of 8.58% and a negative net margin of 10.38%. The company had revenue of $179.78 million during the quarter, compared to analysts' expectations of $231.50 million. As a group, sell-side analysts forecast that SNDL will post -0.09 EPS 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.