SNDL (NASDAQ:SNDL) Trading Up 1.2% – Still a Buy?

SNDL Inc. (NASDAQ:SNDL) shares traded up 1.2% during mid-day trading on Friday . The stock traded as high as $1.68 and last traded at $1.66. 3,052,929 shares traded hands during trading, a decline of 36% from the average session volume of 4,763,855 shares. The stock had previously closed at $1.64.

Wall Street Analysts Forecast Growth

SNDL has been the topic of several recent research reports. Wall Street Zen lowered SNDL from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SNDL in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.50.

SNDL Stock Up 1.2%

The company has a quick ratio of 3.54, a current ratio of 5.04 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average price of $1.77 and a 200-day moving average price of $1.96.

SNDL (NASDAQ:SNDL) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.04) EPS for the quarter. SNDL had a negative net margin of 9.66% and a negative return on equity of 8.28%. The company had revenue of $175.35 million during the quarter, compared to analyst estimates of $242.98 million. As a group, equities research analysts expect that SNDL Inc. will post -0.09 earnings per share for the current year.

Institutional Investors Weigh In On SNDL

Hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its holdings in shares of SNDL by 17.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 424,317 shares of the company’s stock worth $598,000 after acquiring an additional 62,004 shares in the last quarter. Magnus Financial Group LLC increased its holdings in SNDL by 23.3% during the 2nd quarter. Magnus Financial Group LLC now owns 148,246 shares of the company’s stock valued at $179,000 after purchasing an additional 28,000 shares in the last quarter. R Squared Ltd raised its position in SNDL by 296.1% in the 2nd quarter. R Squared Ltd now owns 140,681 shares of the company’s stock valued at $170,000 after purchasing an additional 105,161 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in SNDL in the third quarter worth $5,039,000. Finally, Cambria Investment Management L.P. boosted its stake in SNDL by 41.9% in the third quarter. Cambria Investment Management L.P. now owns 525,606 shares of the company’s stock worth $1,409,000 after purchasing an additional 155,236 shares in the last quarter.

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.