SNDL (NASDAQ:SNDL) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded SNDL from “Hold” to “Sell.” Other analyst views remain mixed, with an overall consensus “Hold” rating and a $5.00 average price target.
• SNDL shares opened at $1.23, near their 52-week low of $1.17, with a market capitalization of approximately $316.6 million. The stock’s 50-day and 200-day moving averages were $1.36 and $1.44, respectively.
• The company reported a quarterly loss of $0.02 per share and revenue of $165.94 million, slightly below analyst expectations, while maintaining negative net margin and return on equity.

SNDL (NASDAQ:SNDL - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Several other equities analysts also recently weighed in on SNDL. Weiss Ratings reissued a "sell (e+)" rating on shares of SNDL in a research note on Thursday, June 11th. Zacks Research raised shares of SNDL from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $5.00.

SNDL Stock Performance

NASDAQ SNDL opened at $1.23 on Friday. The company has a market cap of $316.60 million, a PE ratio of -20.50 and a beta of 0.92. The stock's 50 day simple moving average is $1.36 and its 200-day simple moving average is $1.44. SNDL has a 1-year low of $1.17 and a 1-year high of $2.89. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.76 and a quick ratio of 3.25.

SNDL (NASDAQ:SNDL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.02) EPS for the quarter. SNDL had a negative net margin of 2.36% and a negative return on equity of 2.01%. The firm had revenue of $165.94 million during the quarter, compared to analyst estimates of $166.26 million. As a group, equities research analysts anticipate that SNDL will post -0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On SNDL

Hedge funds have recently modified their holdings of the company. AdvisorShares Investments LLC increased its position in shares of SNDL by 10.5% during the 4th quarter. AdvisorShares Investments LLC now owns 3,637,388 shares of the company's stock worth $6,038,000 after purchasing an additional 344,896 shares during the last quarter. Leonteq Securities AG purchased a new position in SNDL during the fourth quarter worth about $148,000. PFG Investments LLC increased its position in shares of SNDL by 53.8% during the fourth quarter. PFG Investments LLC now owns 20,000 shares of the company's stock valued at $33,000 after acquiring an additional 7,000 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of SNDL during the fourth quarter valued at about $69,000. Finally, FSM Wealth Advisors LLC purchased a new stake in shares of SNDL in the 4th quarter valued at approximately $33,000.

About SNDL

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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