SNDL (NASDAQ:SNDL) Trading Up 6.4% - Should You Buy?

Key Points

• SNDL Inc. shares rose by 6.4%, reaching a last traded price of $2.40, despite a decrease in trading volume by 41% compared to the average.
• The company reported a $0.01 EPS for the last quarter, exceeding analysts' expectations, but had a revenue of $179.78 million, falling short of the forecast.
• Institutional investors are actively adjusting their stakes in SNDL, with notable increases from Tidal Investments LLC and BNP Paribas Financial Markets, reflecting growing interest in the stock.

Shares of SNDL Inc. (NASDAQ:SNDL - Get Free Report) were up 6.4% on Monday . The company traded as high as $2.39 and last traded at $2.40. Approximately 1,267,293 shares were traded during trading, a decline of 41% from the average daily volume of 2,161,772 shares. The stock had previously closed at $2.25.

SNDL Trading Up 6.0%

The business has a 50 day moving average of $1.57 and a two-hundred day moving average of $1.50. The firm has a market cap of $626.73 million, a P/E ratio of -8.81 and a beta of 3.57. The company has a current ratio of 5.03, a quick ratio of 3.36 and a debt-to-equity ratio of 0.11.

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

Institutional Trading of SNDL

Institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC grew its holdings in SNDL by 2.5% in the 2nd 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. BNP Paribas Financial Markets increased its position in SNDL by 7.5% during the second quarter. BNP Paribas Financial Markets now owns 4,853,517 shares of the company's stock worth $5,873,000 after acquiring an additional 338,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in SNDL by 41.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,095,205 shares of the company's stock valued at $3,750,000 after purchasing an additional 612,495 shares during the period. Invesco Ltd. boosted its holdings in 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 purchasing an additional 10,134 shares during the period. Finally, State of Wyoming grew its position in shares of SNDL by 14.5% during the 1st quarter. State of Wyoming now owns 650,510 shares of the company's stock worth $917,000 after purchasing an additional 82,326 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.

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