SNDL (NASDAQ:SNDL) Stock Crosses Below 200 Day Moving Average - Here's What Happened

Key Points

• SNDL fell below its 200-day moving average, trading as low as $1.37 versus the average of $1.38; shares were down 1.4% in the session.
• Analysts’ average rating is “Reduce”, with one Hold and one Sell rating; Wall Street Zen recently downgraded the stock to Strong Sell.
• Quarterly results missed on earnings, with EPS of -$0.15 versus the -$0.01 consensus, while revenue of $167.18 million topped estimates of $164.18 million.

Shares of SNDL Inc. (NASDAQ:SNDL - Get Free Report) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $1.38 and traded as low as $1.37. SNDL shares last traded at $1.37, with a volume of 504,828 shares changing hands.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of SNDL from a "sell" rating to a "strong sell" rating in a research report on Saturday, October 31st. Weiss Ratings raised shares of SNDL from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce".

SNDL Trading Down 1.4%

The company has a market capitalization of $352.64 million, a P/E ratio of -8.06 and a beta of 0.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.92 and a quick ratio of 2.34. The firm has a fifty day moving average price of $1.32 and a 200-day moving average price of $1.38.

SNDL (NASDAQ:SNDL - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.14). SNDL had a negative return on equity of 1.68% and a negative net margin of 6.39%. The business had revenue of $167.18 million for the quarter, compared to the consensus estimate of $164.18 million. On average, equities research analysts anticipate that SNDL Inc. will post -0.20 earnings per share for the current year.

Institutional Investors Weigh In On SNDL

Large investors have recently made changes to their positions in the business. StoneX Group Inc. raised its stake in shares of SNDL by 25.9% during the 3rd quarter. StoneX Group Inc. now owns 42,128 shares of the company's stock worth $54,000 after purchasing an additional 8,664 shares during the period. State of Wyoming grew its position in SNDL by 739.3% during the third quarter. State of Wyoming now owns 1,461,165 shares of the company's stock valued at $1,885,000 after buying an additional 1,287,074 shares during the period. Connective Capital Management LLC bought a new position in SNDL during the second quarter valued at about $129,000. Ewing Morris & Co. Investment Partners Ltd. grew its position in SNDL by 13.8% during the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 1,481,222 shares of the company's stock valued at $1,994,000 after buying an additional 180,000 shares during the period. Finally, Cannell Capital LLC purchased a new stake in SNDL during the second quarter worth about $11,663,164.

SNDL Company Profile

SNDL Inc. is a Canadian cannabis and liquor company headquartered in Calgary, Alberta. Formerly known as Sundial Growers, the company changed its name to SNDL in 2022 and operates across cannabis production, cannabis retail and liquor retail. Its cannabis business cultivates and processes cannabis and sells products under brands including Sundial and Top Leaf. SNDL also operates Canadian cannabis retail stores through banners such as Value Buds and Spiritleaf. The company's liquor business includes retail banners such as Ace Liquor, Liquor Depot and Wine and Beyond.

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