SNDL (NASDAQ:SNDL) Earns Buy Rating from Analysts at Alliance Global Partners

Key Points

• Analysts at Alliance Global Partners have initiated coverage on SNDL with a "buy" rating and a target price of $5.00, signaling a potential upside of 102.43% from its current stock price.
• SNDL reported a quarterly EPS of $0.01 that exceeded expectations, but the company experienced a negative net margin of 10.38% and revenue below analyst estimates at $179.78 million.
• Recent institutional trading reflects increased interest in SNDL, with significant stake acquisitions by SkyView Investment Advisors and Corient Private Wealth in the second quarter.

Investment analysts at Alliance Global Partners initiated coverage on shares of SNDL (NASDAQ:SNDL - Get Free Report) in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $5.00 price target on the stock. Alliance Global Partners' target price suggests a potential upside of 102.43% from the stock's current price.

SNDL Stock Performance

Shares of SNDL opened at $2.47 on Wednesday. The company has a market capitalization of $649.07 million, a price-to-earnings ratio of -9.15 and a beta of 3.92. SNDL has a 52-week low of $1.15 and a 52-week high of $2.74. The company has a quick ratio of 3.36, a current ratio of 5.03 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average price of $1.75 and a 200 day moving average price of $1.54.

SNDL (NASDAQ:SNDL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.05. SNDL had a negative net margin of 10.38% and a negative return on equity of 8.58%. The firm had revenue of $179.78 million for the quarter, compared to analyst estimates of $231.50 million. Research analysts predict that SNDL will post -0.09 EPS for the current fiscal year.

Institutional Trading of SNDL

Institutional investors and hedge funds have recently bought and sold shares of the business. SkyView Investment Advisors LLC grew its position in SNDL by 4.5% during the 2nd quarter. SkyView Investment Advisors LLC now owns 288,301 shares of the company's stock worth $355,000 after purchasing an additional 12,467 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of SNDL by 54.5% during the second quarter. Corient Private Wealth LLC now owns 60,728 shares of the company's stock worth $73,000 after buying an additional 21,414 shares during the last quarter. Tidal Investments LLC increased its position in 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 acquiring an additional 178,622 shares during the period. Oxford Asset Management LLP purchased a new stake in SNDL during the 2nd quarter valued at approximately $44,000. Finally, Hilton Capital Management LLC acquired a new stake in SNDL during the 2nd quarter worth approximately $30,000.

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.

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