SNDL (NASDAQ:SNDL) Downgraded to Hold Rating by Wall Street Zen

Key Points

• SNDL was downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a cautious outlook on the stock's performance.
• Despite the downgrade, SNDL saw a 2.0% increase in its trading even though the stock has fluctuated between $1.15 and $2.79 over the past year.
• Analysts predict that SNDL will post a net loss for the current fiscal year, forecasting -0.09 EPS, indicating continued financial challenges for the company.

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

A number of other research analysts also recently commented on SNDL. Weiss Ratings reiterated a "sell (d-)" rating on shares of SNDL in a report on Saturday, September 27th. Alliance Global Partners assumed coverage on SNDL in a research note on Wednesday, September 3rd. They set a "buy" rating and a $5.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, SNDL has an average rating of "Hold" and an average target price of $4.50.

SNDL Trading Up 2.0%

SNDL opened at $2.58 on Friday. SNDL has a one year low of $1.15 and a one year high of $2.79. The company has a market cap of $677.97 million, a P/E ratio of -9.56 and a beta of 3.83. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.36 and a current ratio of 5.03. The business's 50-day simple moving average is $2.25 and its 200-day simple moving average is $1.68.

SNDL (NASDAQ:SNDL - Get Free Report) last released its quarterly earnings data 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 business had revenue of $179.78 million for the quarter, compared to the consensus estimate of $231.50 million. As a group, equities research analysts expect that SNDL will post -0.09 EPS for the current fiscal year.

Institutional Trading of SNDL

Several hedge funds have recently modified their holdings of the business. Tidal Investments LLC lifted its holdings in shares of SNDL by 2.5% in the 2nd quarter. Tidal Investments LLC now owns 7,272,668 shares of the company's stock valued at $8,800,000 after buying an additional 178,622 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of SNDL by 7.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,853,517 shares of the company's stock valued at $5,873,000 after buying an additional 338,278 shares during the period. State of Wyoming lifted its holdings in shares of SNDL by 14.5% in the 1st quarter. State of Wyoming now owns 650,510 shares of the company's stock valued at $917,000 after buying an additional 82,326 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of SNDL by 17.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 424,317 shares of the company's stock valued at $598,000 after buying an additional 62,004 shares during the period. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of SNDL by 78.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 354,965 shares of the company's stock valued at $430,000 after buying an additional 155,854 shares during the period.

SNDL Company Profile

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.

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