SNDL (NASDAQ:SNDL) Sees Strong Trading Volume - Still a Buy?

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) saw unusually-high trading volume on Tuesday . Approximately 3,008,049 shares were traded during mid-day 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 Price Performance

The firm has a market capitalization of $530.82 million, a price-to-earnings ratio of -7.48 and a beta of 3.57. The stock's fifty day moving average price is $1.48 and its two-hundred day moving average price is $1.49. The company has a current ratio of 5.03, a quick ratio of 3.36 and a debt-to-equity ratio of 0.11.

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

Institutional Investors Weigh In On SNDL

Institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC increased its position in shares of SNDL by 2.5% during the second quarter. Tidal Investments LLC now owns 7,272,668 shares of the company's stock worth $8,800,000 after purchasing an additional 178,622 shares in the last quarter. BNP Paribas Financial Markets increased its position in SNDL by 7.5% during the second quarter. BNP Paribas Financial Markets now owns 4,853,517 shares of the company's stock worth $5,873,000 after buying an additional 338,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in SNDL by 41.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,095,205 shares of the company's stock valued at $3,750,000 after buying an additional 612,495 shares during the last quarter. Invesco Ltd. lifted its stake in SNDL by 1.3% in the fourth quarter. Invesco Ltd. now owns 806,812 shares of the company's stock valued at $1,444,000 after buying an additional 10,134 shares during the last quarter. Finally, State of Wyoming boosted its holdings in shares of SNDL by 14.5% in the first quarter. State of Wyoming now owns 650,510 shares of the company's stock valued at $917,000 after acquiring an additional 82,326 shares during the period.

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.