ATB Capital Forecasts Strong Price Appreciation for SNDL (NASDAQ:SNDL) Stock

SNDL (NASDAQ:SNDL) had its price target increased by investment analysts at ATB Capital from $3.50 to $4.00 in a report released on Wednesday,BayStreet.CA reports. ATB Capital’s price objective suggests a potential upside of 155.59% from the company’s previous close.

SNDL Price Performance

Shares of SNDL traded down $0.04 during mid-day trading on Wednesday, hitting $1.57. The company’s stock had a trading volume of 1,221,690 shares, compared to its average volume of 3,314,992. The company has a current ratio of 5.61, a quick ratio of 4.16 and a debt-to-equity ratio of 0.10. The firm has a 50-day simple moving average of $1.72 and a 200 day simple moving average of $1.89. The firm has a market capitalization of $411.24 million, a P/E ratio of -5.05 and a beta of 3.39. SNDL has a 1-year low of $1.40 and a 1-year high of $2.93.

SNDL (NASDAQ:SNDL) last posted its quarterly earnings results on Tuesday, March 18th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.18). The business had revenue of $179.06 million during the quarter, compared to analyst estimates of $248.10 million. SNDL had a negative net margin of 12.11% and a negative return on equity of 8.27%. Analysts predict that SNDL will post -0.09 EPS for the current fiscal year.

Institutional Trading of SNDL

Several large investors have recently bought and sold shares of SNDL. State Street Corp grew its holdings in SNDL by 1.5% in the third quarter. State Street Corp now owns 353,107 shares of the company’s stock valued at $727,000 after purchasing an additional 5,246 shares during the last quarter. Tidal Investments LLC lifted its position in shares of SNDL by 5.0% in the third quarter. Tidal Investments LLC now owns 6,510,961 shares of the company’s stock valued at $13,413,000 after acquiring an additional 311,642 shares in the last quarter. Transform Wealth LLC purchased a new stake in shares of SNDL in the fourth quarter valued at $87,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of SNDL in the fourth quarter valued at $25,000. Finally, Newman Dignan & Sheerar Inc. lifted its position in shares of SNDL by 18.4% in the fourth quarter. Newman Dignan & Sheerar Inc. now owns 64,420 shares of the company’s stock valued at $115,000 after acquiring an additional 10,000 shares in the last quarter.

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.