602,225 Shares in SNDL Inc. $SNDL Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC acquired a new position in shares of SNDL Inc. (NASDAQ:SNDL) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 602,225 shares of the company’s stock, valued at approximately $795,000.

A number of other hedge funds have also recently bought and sold shares of SNDL. PFG Investments LLC raised its position in shares of SNDL by 53.8% during the fourth 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. Private Advisor Group LLC bought a new position in SNDL in the first quarter valued at about $28,000. Hilton Capital Management LLC bought a new position in SNDL in the second quarter valued at about $30,000. Caitong International Asset Management Co. Ltd bought a new stake in SNDL during the 4th quarter worth about $45,000. Finally, Hsbc Holdings PLC bought a new stake in SNDL during the 1st quarter worth about $45,000.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of SNDL from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SNDL in a research note on Thursday, June 11th. Finally, Zacks Research raised shares of SNDL from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. 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 data from MarketBeat, SNDL has a consensus rating of “Hold” and a consensus price target of $5.00.

SNDL Stock Performance

Shares of NASDAQ:SNDL opened at $1.26 on Friday. The firm’s 50 day simple moving average is $1.32 and its 200 day simple moving average is $1.41. SNDL Inc. has a fifty-two week low of $1.17 and a fifty-two week high of $2.89. The company has a market capitalization of $324.32 million, a price-to-earnings ratio of -21.00 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.

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

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.