Zacks Investment Research Upgrades Sundial Growers (NASDAQ:SNDL) to “Hold”

Sundial Growers (NASDAQ:SNDL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Sundial Growers Inc. operates as a pharmaceutical company. It produces and grows cannabis strains. Sundial Growers Inc. is based in Calgary, Canada. “

Several other research firms have also recently commented on SNDL. Atb Cap Markets upgraded Sundial Growers from an “underperform” rating to a “sector perform” rating in a research report on Tuesday, July 20th. ATB Capital upgraded Sundial Growers from an “underperform” rating to a “sector perform” rating in a report on Wednesday, July 21st. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, Sundial Growers currently has an average rating of “Hold” and an average target price of $0.80.

Shares of NASDAQ SNDL opened at $0.69 on Wednesday. The stock has a market cap of $1.15 billion, a PE ratio of -1.19 and a beta of 6.18. Sundial Growers has a fifty-two week low of $0.14 and a fifty-two week high of $3.96. The stock has a fifty day moving average of $0.77 and a 200-day moving average of $0.92.

Sundial Growers (NASDAQ:SNDL) last posted its earnings results on Thursday, August 12th. The company reported $0.01 EPS for the quarter. Sundial Growers had a negative return on equity of 23.14% and a negative net margin of 707.37%. The business had revenue of $7.45 million during the quarter, compared to analysts’ expectations of $8.00 million. Analysts predict that Sundial Growers will post -0.08 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNDL. Renaissance Technologies LLC lifted its stake in shares of Sundial Growers by 982.5% in the 2nd quarter. Renaissance Technologies LLC now owns 70,918,251 shares of the company’s stock valued at $67,301,000 after acquiring an additional 64,366,672 shares during the last quarter. Morgan Stanley lifted its stake in shares of Sundial Growers by 6,149.7% in the 1st quarter. Morgan Stanley now owns 11,086,592 shares of the company’s stock valued at $12,527,000 after acquiring an additional 10,909,198 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Sundial Growers in the 1st quarter valued at about $10,237,000. Alpine Global Management LLC bought a new stake in shares of Sundial Growers in the 1st quarter valued at about $3,289,000. Finally, GMT Capital Corp bought a new stake in shares of Sundial Growers in the 2nd quarter valued at about $2,003,000. 9.23% of the stock is owned by institutional investors.

Sundial Growers Company Profile

Sundial Growers, Inc engages in the production and distribution of flower, pre-rolls and vapes. The firm offers licensed producer, ACMPR, cannabis, medical cannabis, health and wellness, and cannabis extracts. The company was founded by Stanley J. Swiatek and is headquartered in Calgary, Canada.

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Analyst Recommendations for Sundial Growers (NASDAQ:SNDL)

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