SNDL (NASDAQ:SNDL) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of SNDL (NASDAQ:SNDL) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Several other research firms have also weighed in on SNDL. Weiss Ratings reiterated a “sell (e+)” rating on shares of SNDL in a research note on Thursday, June 11th. Zacks Research raised SNDL from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.00.

SNDL Trading Down 0.4%

Shares of SNDL stock opened at $1.23 on Friday. SNDL has a 52-week low of $1.17 and a 52-week high of $2.89. The firm has a market capitalization of $315.31 million, a PE ratio of -20.42 and a beta of 0.93. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.76 and a quick ratio of 3.11. The company’s fifty day moving average price is $1.36 and its two-hundred day moving average price is $1.44.

SNDL (NASDAQ:SNDL) last issued its earnings results on Tuesday, July 28th. The company reported ($0.02) earnings per share for the quarter. SNDL had a negative net margin of 2.36% and a negative return on equity of 2.01%. The business had revenue of $165.94 million for the quarter, compared to analyst estimates of $166.26 million. On average, analysts expect that SNDL will post -0.06 EPS for the current year.

Institutional Investors Weigh In On SNDL

A number of hedge funds have recently made changes to their positions in the company. AdvisorShares Investments LLC boosted its holdings in shares of SNDL by 10.5% in the 4th quarter. AdvisorShares Investments LLC now owns 3,637,388 shares of the company’s stock worth $6,038,000 after acquiring an additional 344,896 shares in the last quarter. Leonteq Securities AG acquired a new stake in SNDL during the 4th quarter valued at $148,000. PFG Investments LLC raised its position in SNDL by 53.8% in the 4th quarter. PFG Investments LLC now owns 20,000 shares of the company’s stock valued at $33,000 after purchasing an additional 7,000 shares during the last quarter. SG Americas Securities LLC bought a new position in SNDL in the 4th quarter valued at $69,000. Finally, FSM Wealth Advisors LLC bought a new position in SNDL in the 4th quarter valued at $33,000.

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.