Traders Purchase High Volume of Call Options on SNDL (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 some unusual options trading on Tuesday. Stock traders purchased 8,720 call options on the company. Thisrepresentsanincreaseof291% compared to the average volume of 2,231 call options.

SNDL Stock Performance

Shares of SNDL traded down $0.09 on Friday, reaching $2.02. 5,196,449 shares of the stock traded hands, compared to its average volume of 4,148,273. The firm has a market cap of $530.82 million, a price-to-earnings ratio of -7.48 and a beta of 3.57. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.03 and a quick ratio of 3.36. SNDL has a 12 month low of $1.15 and a 12 month high of $2.40. The stock's 50-day moving average price is $1.48 and its 200-day moving average price is $1.49.

SNDL (NASDAQ:SNDL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.05. The business had revenue of $179.78 million for the quarter, compared to analysts' expectations of $231.50 million. SNDL had a negative return on equity of 8.58% and a negative net margin of 10.38%. Equities analysts forecast that SNDL will post -0.09 EPS for the current fiscal year.

Institutional Trading of SNDL

A number of institutional investors and hedge funds have recently modified their holdings of SNDL. BNP Paribas Financial Markets acquired a new stake in SNDL in the 4th quarter valued at $7,357,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in SNDL in the 4th quarter valued at $584,000. Boothbay Fund Management LLC acquired a new stake in SNDL in the 4th quarter valued at $404,000. Finally, OneDigital Investment Advisors LLC acquired a new stake in SNDL in the 4th quarter valued at $364,000.

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.