SNDL (NASDAQ:SNDL) Reaches New 52-Week High - Time to Buy?

Key Points

• SNDL Inc. achieved a new 52-week high, trading as high as $2.42, with a last trade at $2.40 and a volume of over 5 million shares.
• The company reported earnings of $0.01 per share for its last quarter, surpassing the consensus estimate of (-0.04), but fell short in revenue expectations.
• Several hedge funds increased their stakes in SNDL significantly in the 4th quarter, indicating growing institutional interest in the company.

SNDL Inc. (NASDAQ:SNDL - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $2.42 and last traded at $2.40, with a volume of 5011386 shares traded. The stock had previously closed at $2.25.

SNDL Price Performance

The company has a current ratio of 5.03, a quick ratio of 3.36 and a debt-to-equity ratio of 0.11. The firm has a market cap of $704.24 million, a price-to-earnings ratio of -9.93 and a beta of 3.57. The company's 50-day moving average is $1.67 and its 200-day moving average is $1.52.

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

Institutional Investors Weigh In On SNDL

Several hedge funds have recently added to or reduced their stakes in SNDL. Mackenzie Financial Corp acquired a new stake in SNDL during the 4th quarter valued at approximately $35,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in SNDL during the 1st quarter valued at approximately $30,000. Quantbot Technologies LP increased its position in SNDL by 815.0% during the 1st quarter. Quantbot Technologies LP now owns 21,667 shares of the company's stock valued at $31,000 after purchasing an additional 19,299 shares during the period. Hilton Capital Management LLC acquired a new stake in SNDL during the 2nd quarter valued at approximately $30,000. Finally, Two Sigma Advisers LP acquired a new stake in SNDL during the 4th quarter valued at approximately $47,000.

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.