SNDL (NASDAQ:SNDL) Trading Down 1.4% – What’s Next?

SNDL Inc. (NASDAQ:SNDL)’s stock price traded down 1.4% during trading on Friday . The stock traded as low as $1.4350 and last traded at $1.45. 877,828 shares were traded during trading, a decline of 64% from the average session volume of 2,430,360 shares. The stock had previously closed at $1.47.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered shares of SNDL from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, SNDL currently has an average rating of “Reduce” and an average target price of $5.00.

SNDL Trading Down 1.4%

The firm has a 50 day simple moving average of $1.42 and a 200 day simple moving average of $1.58. The company has a current ratio of 4.84, a quick ratio of 3.25 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $373.23 million, a PE ratio of -48.33 and a beta of 0.88.

SNDL (NASDAQ:SNDL) last issued its earnings results on Thursday, March 12th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. SNDL had a negative return on equity of 1.02% and a negative net margin of 1.19%.The business had revenue of $183.87 million for the quarter, compared to the consensus estimate of $257.97 million. Equities analysts expect that SNDL Inc. will post -0.01 earnings per share for the current fiscal year.

Institutional Trading of SNDL

Several institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its position in SNDL by 2.5% during the second quarter. Tidal Investments LLC now owns 7,272,668 shares of the company’s stock valued at $8,800,000 after purchasing an additional 178,622 shares during the period. BNP Paribas Financial Markets lifted 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 valued at $5,873,000 after purchasing an additional 338,278 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in SNDL by 718.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 4,622,786 shares of the company’s stock valued at $12,325,000 after purchasing an additional 4,057,790 shares during the period. AdvisorShares Investments LLC lifted its position in SNDL by 10.5% during the fourth quarter. AdvisorShares Investments LLC now owns 3,637,388 shares of the company’s stock valued at $6,038,000 after purchasing an additional 344,896 shares during the period. Finally, JPMorgan Chase & Co. bought a new position in SNDL during the third quarter valued at approximately $5,039,000.

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.