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

Wall Street Zen downgraded shares of SNDL (NASDAQ:SNDL) from a sell rating to a strong sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings raised SNDL from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, SNDL presently has an average rating of “Reduce”.

SNDL Price Performance

NASDAQ:SNDL opened at $1.27 on Friday. The company has a current ratio of 3.92, a quick ratio of 3.11 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $326.89 million, a P/E ratio of -7.47 and a beta of 0.93. SNDL has a 12 month low of $1.13 and a 12 month high of $2.34. The business’s 50-day moving average is $1.32 and its 200 day moving average is $1.39.

SNDL (NASDAQ:SNDL) last announced its quarterly earnings results on Tuesday, October 27th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.14). The firm had revenue of $167.18 million for the quarter, compared to the consensus estimate of $164.18 million. SNDL had a negative net margin of 6.39% and a negative return on equity of 1.68%. On average, equities research analysts forecast that SNDL will post -0.20 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SNDL

Institutional investors and hedge funds have recently made changes to their positions in the business. State of Wyoming lifted its holdings in shares of SNDL by 739.3% in the 3rd quarter. State of Wyoming now owns 1,461,165 shares of the company’s stock valued at $1,885,000 after acquiring an additional 1,287,074 shares during the last quarter. Connective Capital Management LLC purchased a new position in SNDL in the second quarter worth about $129,000. Ewing Morris & Co. Investment Partners Ltd. increased its stake in SNDL by 13.8% during the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 1,481,222 shares of the company’s stock worth $1,994,000 after acquiring an additional 180,000 shares during the last quarter. Cannell Capital LLC bought a new stake in SNDL during the second quarter worth approximately $11,663,164. Finally, Bank of America Corp DE bought a new stake in SNDL during the second quarter worth approximately $217,000.

SNDL Company Profile

SNDL Inc is a Canada-based cannabis and liquor company headquartered in Calgary, Alberta. Formerly known as Sundial Growers Inc, the company began as a licensed cannabis producer and has expanded into cannabis cultivation, processing, branded product sales and retail operations.

SNDL offers cannabis products through brands that have included Sundial, Top Leaf, Palmetto and Value Buds. Its cannabis business serves the Canadian adult-use and medical markets through provincial distribution systems and company-operated or affiliated retail locations.