SNDL (NASDAQ:SNDL) Stock Falls 2.2% – What’s Next?

SNDL Inc. (NASDAQ:SNDL) traded down 2.2% on Tuesday. The stock traded as low as $1.3550 and last traded at $1.36. Approximately 1,945,780 shares were traded during mid-day trading, an increase of 66% from the average session volume of 1,169,498 shares. The stock had previously closed at $1.39.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SNDL. Weiss Ratings raised SNDL from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 26th. Wall Street Zen cut SNDL from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

SNDL Price Performance

The business’s 50-day moving average price is $1.32 and its 200 day moving average price is $1.38. The stock has a market capitalization of $350.06 million, a PE ratio of -22.67 and a beta of 0.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.11 and a current ratio of 4.76.

SNDL (NASDAQ:SNDL) last issued its quarterly earnings data on Tuesday, July 28th. The company reported ($0.02) earnings per share (EPS) for the quarter. SNDL had a negative return on equity of 2.01% and a negative net margin of 2.36%.The business had revenue of $165.94 million during the quarter, compared to analysts’ expectations of $166.26 million. Research analysts forecast that SNDL Inc. will post -0.06 earnings per share for the current year.

Institutional Trading of SNDL

A number of large investors have recently modified their holdings of the business. Connective Capital Management LLC bought a new stake in SNDL during the second quarter valued at approximately $129,000. Ewing Morris & Co. Investment Partners Ltd. increased its holdings in shares of SNDL by 13.8% in the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 1,481,222 shares of the company’s stock worth $1,994,000 after buying an additional 180,000 shares during the last quarter. Cannell Capital LLC purchased a new stake in shares of SNDL during the 2nd quarter valued at $11,663,164. Bank of America Corp DE purchased a new stake in shares of SNDL during the 2nd quarter valued at $217,000. Finally, Man Group plc bought a new stake in shares of SNDL during the 2nd quarter worth $1,228,000.

SNDL Company Profile

SNDL Inc (NASDAQ: SNDL) is a Canadian cannabis and liquor company headquartered in Calgary, Alberta. The company operates across the cannabis value chain, including cultivation, processing, manufacturing, distribution and retail, while also maintaining a network of liquor stores.

SNDL’s cannabis business offers products such as dried cannabis, pre-rolls, vapes, concentrates, edibles and beverages through brands that include SNDL, Sundial, Top Leaf, Palmetto and Grasslands. Its cannabis retail operations include banners such as Value Buds, Spiritleaf and Dutch Love.