OneDigital Investment Advisors LLC Makes New Investment in SNDL Inc. $SNDL

OneDigital Investment Advisors LLC acquired a new position in SNDL Inc. (NASDAQ:SNDL) during the second quarter, HoldingsChannel reports. The firm acquired 585,135 shares of the company’s stock, valued at approximately $790,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. PFG Investments LLC lifted its stake in shares of SNDL by 53.8% in the 4th quarter. PFG Investments LLC now owns 20,000 shares of the company’s stock valued at $33,000 after purchasing an additional 7,000 shares in the last quarter. SG Americas Securities LLC increased its position in SNDL by 21.3% during the 1st quarter. SG Americas Securities LLC now owns 50,667 shares of the company’s stock worth $67,000 after purchasing an additional 8,899 shares in the last quarter. Leonteq Securities AG raised its holdings in SNDL by 10.7% in the first quarter. Leonteq Securities AG now owns 98,629 shares of the company’s stock valued at $130,000 after buying an additional 9,557 shares during the period. State Street Corp raised its holdings in SNDL by 2.6% in the fourth quarter. State Street Corp now owns 432,441 shares of the company’s stock valued at $718,000 after buying an additional 11,152 shares during the period. Finally, SkyView Investment Advisors LLC lifted its position in SNDL by 4.5% during the second quarter. SkyView Investment Advisors LLC now owns 288,301 shares of the company’s stock valued at $355,000 after buying an additional 12,467 shares in the last quarter.

SNDL Stock Performance

Shares of SNDL stock opened at $1.23 on Wednesday. SNDL Inc. has a 12 month low of $1.17 and a 12 month high of $2.89. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.76 and a quick ratio of 3.11. The firm has a market capitalization of $316.60 million, a P/E ratio of -20.50 and a beta of 0.93. The company’s fifty day moving average price is $1.31 and its two-hundred day moving average price is $1.41.

SNDL (NASDAQ:SNDL) last announced its earnings results on Tuesday, July 28th. The company reported ($0.02) earnings per share for the quarter. SNDL had a negative net margin of 2.36% and a negative return on equity of 2.01%. The business had revenue of $165.94 million for the quarter, compared to analyst estimates of $166.26 million. On average, research analysts anticipate that SNDL Inc. will post -0.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SNDL shares. Zacks Research upgraded shares of SNDL from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of SNDL in a research note on Thursday, June 11th. Finally, Wall Street Zen lowered shares of SNDL from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.00.

SNDL Company Profile

SNDL Inc, formerly known as Sundial Growers Inc, is a Canada-based consumer packaged goods company focused on the production, manufacturing and distribution of cannabis products. Headquartered in Calgary, Alberta, SNDL operates multiple cultivation and processing facilities across Canada, including indoor and hybrid greenhouses in British Columbia and Ontario. The company serves both adult-use and medical cannabis markets, supplying provincial distributors as well as operating through its own wholesale and retail networks.

The company’s product portfolio spans dried flower, pre-rolls, vape cartridges, cannabis oils, edibles and infused beverages under a variety of in-house brands.