SNDL (NASDAQ:SNDL) Hits New 52-Week High - Still a 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) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $2.42 and last traded at $2.40, with a volume of 5011386 shares trading hands. The stock had previously closed at $2.25.

SNDL Price Performance

The company has a market capitalization of $704.25 million, a price-to-earnings ratio of -9.93 and a beta of 3.92. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.03 and a quick ratio of 3.36. The business has a fifty day moving average price of $1.70 and a 200 day moving average price of $1.52.

SNDL (NASDAQ:SNDL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.05. The company 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%. On average, research analysts expect that SNDL Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SNDL. BNP Paribas Financial Markets acquired a new position in shares of SNDL during the fourth quarter valued at $7,357,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in SNDL by 41.3% during 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 in the last quarter. OMERS ADMINISTRATION Corp bought a new position in SNDL during the fourth quarter valued at about $584,000. Tidal Investments LLC boosted its stake in SNDL by 2.5% during the second 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 in the last quarter. Finally, State of Wyoming boosted its stake in SNDL by 43.9% during the fourth quarter. State of Wyoming now owns 568,184 shares of the company's stock valued at $1,017,000 after buying an additional 173,409 shares in the last quarter.

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.