SNDL (NASDAQ:SNDL) Trading Up 5.3% - Here's Why

Key Points

• SNDL Inc. shares traded up 5.3% to a price of $2.70, despite experiencing a 50% decline in trading volume compared to the average session.
• Analysts show mixed sentiments on SNDL, with a consensus rating of "Hold" and a price target of $4.50, while one rating is a "buy" and another is a "sell."
• The company reported earnings of $0.01 EPS, exceeding estimates, but revenue fell short of expectations with $179.78 million reported compared to forecasted $231.50 million.

Shares of SNDL Inc. (NASDAQ:SNDL - Get Free Report) traded up 5.3% during trading on Tuesday . The stock traded as high as $2.73 and last traded at $2.70. 1,223,067 shares traded hands during trading, a decline of 50% from the average session volume of 2,438,181 shares. The stock had previously closed at $2.56.

Wall Street Analysts Forecast Growth

SNDL has been the subject of a number of analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of SNDL in a research report on Saturday, September 27th. Wall Street Zen downgraded SNDL from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Alliance Global Partners initiated coverage on SNDL in a report on Wednesday, September 3rd. They issued a "buy" rating and a $5.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $4.50.

SNDL Price Performance

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 stock has a market capitalization of $708.19 million, a PE ratio of -10.02 and a beta of 3.83. The stock's 50 day moving average is $2.27 and its two-hundred day moving average is $1.68.

SNDL (NASDAQ:SNDL - Get Free Report) last announced its 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 business had revenue of $179.78 million during the quarter, compared to analysts' expectations of $231.50 million. SNDL had a negative return on equity of 8.58% and a negative net margin of 10.38%. On average, equities analysts anticipate that SNDL Inc. will post -0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On SNDL

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. OneDigital Investment Advisors LLC grew its stake in SNDL by 3.7% during the 1st quarter. OneDigital Investment Advisors LLC now owns 210,688 shares of the company's stock valued at $297,000 after acquiring an additional 7,558 shares in the last quarter. SkyView Investment Advisors LLC boosted its holdings in shares of SNDL by 4.5% during the 2nd quarter. SkyView Investment Advisors LLC now owns 288,301 shares of the company's stock worth $355,000 after purchasing an additional 12,467 shares during the last quarter. National Bank of Canada FI grew its position in shares of SNDL by 102.7% in the first quarter. National Bank of Canada FI now owns 37,231 shares of the company's stock valued at $52,000 after purchasing an additional 18,864 shares in the last quarter. Quantbot Technologies LP increased its holdings in shares of SNDL by 815.0% in the first 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. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in SNDL during the first quarter worth approximately $30,000.

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.

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