SNDL (NASDAQ:SNDL) Shares Gap Up - Still a Buy?

Key Points

• SNDL Inc. shares gapped up, opening at $1.80 after previously closing at $1.68, with current trading at $1.94 and a significant volume of 6,954,750 shares.
• The company reported earnings of $0.01 EPS, surpassing the consensus estimate of ($0.04), despite having a negative net margin of 10.38%.
• Recent hedge fund activity shows increased investment in SNDL, with Connor Clark & Lunn Investment Management buying in for $30,000 and Quantbot Technologies increasing its holdings by 815%.

SNDL Inc. (NASDAQ:SNDL - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $1.68, but opened at $1.80. SNDL shares last traded at $1.94, with a volume of 6,954,750 shares traded.

SNDL Price Performance

The firm has a market cap of $530.82 million, a PE ratio of -7.48 and a beta of 3.57. The stock's fifty day moving average price is $1.48 and its 200-day moving average price is $1.49. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.36 and a current ratio of 5.03.

SNDL (NASDAQ:SNDL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.01 earnings per share 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 net margin of 10.38% and a negative return on equity of 8.58%. As a group, equities analysts forecast that SNDL Inc. will post -0.09 EPS for the current fiscal year.

Institutional Trading of SNDL

Institutional investors and hedge funds have recently made changes to their positions in the stock. LPL Financial LLC increased its position in shares of SNDL by 339.5% during the 4th quarter. LPL Financial LLC now owns 66,306 shares of the company's stock valued at $119,000 after purchasing an additional 51,218 shares during the period. Invesco Ltd. grew its stake in shares of SNDL by 1.3% in the 4th 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 in the last quarter. Tower Research Capital LLC TRC bought a new stake in SNDL in the fourth quarter worth $77,000. OneDigital Investment Advisors LLC bought a new stake in SNDL during the fourth quarter worth approximately $364,000. Finally, Susquehanna Advisors Group Inc. bought a new stake in SNDL during the fourth quarter valued at about $106,000.

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.