SNDL (NASDAQ:SNDL) Stock Rating Upgraded by Wall Street Zen

Key Points

• SNDL was upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, highlighting increased confidence in the stock's potential.
• Alliance Global Partners initiated coverage with a "buy" rating and set a target price of $5.00, while the stock currently has a consensus target of $4.50.
• SNDL reported earnings of $0.01 per share, surpassing expectations and contributing to a market capitalization of $612.28 million.

SNDL (NASDAQ:SNDL - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Friday.

Separately, Alliance Global Partners initiated coverage on shares of SNDL in a research note on Wednesday, September 3rd. They set a "buy" rating and a $5.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $4.50.

SNDL Stock Performance

Shares of SNDL stock traded down $0.13 during mid-day trading on Friday, reaching $2.33. 2,540,409 shares of the company's stock traded hands, compared to its average volume of 3,036,643. SNDL has a 12 month low of $1.15 and a 12 month high of $2.74. The firm has a 50 day moving average price of $2.15 and a two-hundred day moving average price of $1.64. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.36 and a current ratio of 5.03. The firm has a market capitalization of $612.28 million, a PE ratio of -8.63 and a beta of 3.92.

SNDL (NASDAQ:SNDL - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $231.50 million. On average, research analysts forecast that SNDL will post -0.09 EPS for the current year.

Institutional Trading of SNDL

A number of large investors have recently made changes to their positions in SNDL. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of SNDL in the 1st quarter worth about $30,000. Hilton Capital Management LLC bought a new position in SNDL during the 2nd quarter valued at about $30,000. Quantbot Technologies LP grew its holdings 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 last quarter. Mackenzie Financial Corp bought a new position in SNDL during the 4th quarter valued at about $35,000. Finally, Oxford Asset Management LLP bought a new position in SNDL during the 2nd quarter valued at about $44,000.

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.

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