Cannell Capital LLC Buys Shares of 8,639,381 SNDL Inc. $SNDL

Cannell Capital LLC purchased a new position in shares of SNDL Inc. (NASDAQ:SNDL) in the 2nd quarter, Holdings Channel reports. The firm purchased 8,639,381 shares of the company’s stock, valued at approximately $11,663,164. SNDL comprises approximately 0.0% of Cannell Capital LLC’s holdings, making the stock its 2nd largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in shares of SNDL by 21.3% in the first 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 increased its stake in SNDL by 10.7% in the 1st 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 last quarter. State Street Corp lifted its position in SNDL by 2.6% during the 4th quarter. State Street Corp now owns 432,441 shares of the company’s stock worth $718,000 after buying an additional 11,152 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in SNDL by 4.5% during the 2nd quarter. SkyView Investment Advisors LLC now owns 288,301 shares of the company’s stock worth $355,000 after buying an additional 12,467 shares in the last quarter. Finally, R Squared Ltd boosted its stake in shares of SNDL by 24.5% during the 1st quarter. R Squared Ltd now owns 92,503 shares of the company’s stock worth $122,000 after buying an additional 18,181 shares during the last quarter.

SNDL Stock Performance

NASDAQ SNDL opened at $1.35 on Friday. The company has a current ratio of 4.76, a quick ratio of 3.11 and a debt-to-equity ratio of 0.12. The firm’s fifty day moving average price is $1.30 and its two-hundred day moving average price is $1.40. SNDL Inc. has a 1 year low of $1.17 and a 1 year high of $2.89. The firm has a market capitalization of $348.78 million, a P/E ratio of -22.58 and a beta of 0.93.

SNDL (NASDAQ:SNDL) last announced its quarterly earnings data on Tuesday, July 28th. The company reported ($0.02) EPS for the quarter. The firm had revenue of $165.94 million during the quarter, compared to the consensus estimate of $166.26 million. SNDL had a negative net margin of 2.36% and a negative return on equity of 2.01%. As a group, research analysts anticipate that SNDL Inc. will post -0.06 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on SNDL. Wall Street Zen cut SNDL from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Zacks Research upgraded SNDL from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Weiss Ratings raised SNDL from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, SNDL has a consensus rating of “Hold” and an average target price of $5.00.

SNDL 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.