SNDL (NASDAQ:SNDL) Stock Falls 2.2% - What's Next?

Key Points

• SNDL shares fell 2.2% to $1.36 in midday trading, while volume rose 66% above the average session level.
• Analyst sentiment remains negative: one analyst rates the stock “Hold” and another “Sell,” resulting in an average “Reduce” rating.
• SNDL reported a quarterly loss of $0.02 per share and $165.94 million in revenue, slightly below expectations; analysts forecast a full-year loss of $0.06 per share.

SNDL Inc. (NASDAQ:SNDL - Get Free Report) traded down 2.2% on Tuesday. The stock traded as low as $1.3550 and last traded at $1.36. Approximately 1,945,780 shares were traded during mid-day trading, an increase of 66% from the average session volume of 1,169,498 shares. The stock had previously closed at $1.39.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SNDL. Weiss Ratings raised SNDL from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, August 26th. Wall Street Zen cut SNDL from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Reduce".

SNDL Price Performance

The business's 50-day moving average price is $1.32 and its 200 day moving average price is $1.38. The stock has a market capitalization of $350.06 million, a PE ratio of -22.67 and a beta of 0.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.11 and a current ratio of 4.76.

SNDL (NASDAQ:SNDL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported ($0.02) earnings per share (EPS) for the quarter. SNDL had a negative return on equity of 2.01% and a negative net margin of 2.36%.The business had revenue of $165.94 million during the quarter, compared to analysts' expectations of $166.26 million. Research analysts forecast that SNDL Inc. will post -0.06 earnings per share for the current year.

Institutional Trading of SNDL

A number of large investors have recently modified their holdings of the business. Connective Capital Management LLC bought a new stake in SNDL during the second quarter valued at approximately $129,000. Ewing Morris & Co. Investment Partners Ltd. increased its holdings in shares of SNDL by 13.8% in the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 1,481,222 shares of the company's stock worth $1,994,000 after buying an additional 180,000 shares during the last quarter. Cannell Capital LLC purchased a new stake in shares of SNDL during the 2nd quarter valued at $11,663,164. Bank of America Corp DE purchased a new stake in shares of SNDL during the 2nd quarter valued at $217,000. Finally, Man Group plc bought a new stake in shares of SNDL during the 2nd quarter worth $1,228,000.

SNDL Company Profile

SNDL Inc NASDAQ: SNDL is a Canadian cannabis and liquor company headquartered in Calgary, Alberta. The company operates across the cannabis value chain, including cultivation, processing, manufacturing, distribution and retail, while also maintaining a network of liquor stores.

SNDL's cannabis business offers products such as dried cannabis, pre-rolls, vapes, concentrates, edibles and beverages through brands that include SNDL, Sundial, Top Leaf, Palmetto and Grasslands. Its cannabis retail operations include banners such as Value Buds, Spiritleaf and Dutch Love.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.