SNDL (NASDAQ:SNDL) Sees Large Volume Increase - What's Next?

Key Points

• SNDL Inc. experienced a significant increase in trading volume, with 3,008,049 shares traded, representing a 48% rise from the previous session.
• The company reported a quarterly EPS of $0.01, surpassing analysts' expectations, though revenue of $179.78 million was below estimates of $231.50 million.
• Institutional investment activity increased, with several firms significantly boosting their stakes in SNDL during recent quarters, indicating growing interest in the stock.

SNDL Inc. (NASDAQ:SNDL - Get Free Report) shares saw strong trading volume on Tuesday . 3,008,049 shares were traded during trading, an increase of 48% from the previous session's volume of 2,025,844 shares.The stock last traded at $1.98 and had previously closed at $2.01.

SNDL Trading Down 4.3%

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 market cap of $530.82 million, a price-to-earnings ratio of -7.48 and a beta of 3.57. The firm's 50 day moving average is $1.48 and its two-hundred day moving average is $1.49.

SNDL (NASDAQ:SNDL - Get Free Report) last posted its 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 during the quarter, compared to analysts' expectations of $231.50 million. Equities analysts anticipate that SNDL Inc. will post -0.09 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SNDL. BNP Paribas Financial Markets bought a new stake in SNDL during the fourth quarter worth approximately $7,357,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of SNDL by 41.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,095,205 shares of the company's stock valued at $3,750,000 after acquiring an additional 612,495 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of SNDL in the 4th quarter valued at approximately $584,000. Boothbay Fund Management LLC purchased a new stake in shares of SNDL in the 4th quarter valued at approximately $404,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in shares of SNDL in the 4th quarter valued at approximately $364,000.

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.