SNDL (NASDAQ:SNDL) Raised to “Hold” at Zacks Research

SNDL (NASDAQ:SNDL) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

SNDL Stock Performance

NASDAQ:SNDL opened at $1.48 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.84 and a quick ratio of 3.25. SNDL has a 1 year low of $1.15 and a 1 year high of $2.89. The stock’s 50 day simple moving average is $1.42 and its two-hundred day simple moving average is $1.57. The company has a market cap of $380.95 million, a price-to-earnings ratio of -49.33 and a beta of 0.88.

SNDL (NASDAQ:SNDL) last released its quarterly earnings data on Thursday, March 12th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. As a group, equities analysts anticipate that SNDL will post -0.01 earnings per share for the current fiscal year.

Institutional Trading of SNDL

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new stake in SNDL in the 3rd quarter worth approximately $5,039,000. AdvisorShares Investments LLC increased its stake in SNDL by 203.6% in the 3rd quarter. AdvisorShares Investments LLC now owns 3,292,492 shares of the company’s stock worth $8,824,000 after acquiring an additional 2,208,160 shares during the last quarter. WINTON GROUP Ltd increased its stake in SNDL by 3,112.3% in the 3rd quarter. WINTON GROUP Ltd now owns 354,508 shares of the company’s stock worth $950,000 after acquiring an additional 343,472 shares during the last quarter. Leonteq Securities AG bought a new stake in SNDL in the 4th quarter worth approximately $148,000. Finally, PFG Investments LLC increased its stake in SNDL by 53.8% in the 4th quarter. PFG Investments LLC now owns 20,000 shares of the company’s stock worth $33,000 after acquiring an additional 7,000 shares during the last quarter.

About SNDL

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.