SNDL (NASDAQ:SNDL) Given New $4.00 Price Target at ATB Capital

SNDL (NASDAQ:SNDL) had its target price upped by ATB Capital from $3.50 to $4.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. ATB Capital’s price objective points to a potential upside of 154.78% from the stock’s current price.

SNDL Price Performance

SNDL stock opened at $1.57 on Wednesday. SNDL has a 1-year low of $1.40 and a 1-year high of $2.93. The business has a fifty day moving average price of $1.71 and a 200-day moving average price of $1.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.61 and a quick ratio of 4.16. The stock has a market capitalization of $412.56 million, a P/E ratio of -5.06 and a beta of 3.39.

SNDL (NASDAQ:SNDL) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.18). The firm had revenue of $179.06 million for the quarter, compared to analysts’ expectations of $248.10 million. SNDL had a negative net margin of 12.11% and a negative return on equity of 8.27%. Equities analysts forecast that SNDL will post -0.09 earnings per share for the current fiscal year.

Institutional Trading of SNDL

A number of hedge funds have recently bought and sold shares of SNDL. State Street Corp increased its position in SNDL by 1.5% during the third quarter. State Street Corp now owns 353,107 shares of the company’s stock valued at $727,000 after acquiring an additional 5,246 shares during the last quarter. Tidal Investments LLC increased its position in SNDL by 5.0% during the third quarter. Tidal Investments LLC now owns 6,510,961 shares of the company’s stock valued at $13,413,000 after acquiring an additional 311,642 shares during the last quarter. Transform Wealth LLC purchased a new stake in SNDL during the fourth quarter valued at $87,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in SNDL during the fourth quarter valued at about $25,000. Finally, Newman Dignan & Sheerar Inc. increased its position in SNDL by 18.4% in the fourth quarter. Newman Dignan & Sheerar Inc. now owns 64,420 shares of the company’s stock worth $115,000 after buying an additional 10,000 shares in the last quarter.

About SNDL

SNDL Inc engages in the production, distribution, and sale of cannabis products in Canada. The company operates through Liquor Retail, Cannabis Retail, Cannabis Operations, and Investments segments. It engages in the cultivation, distribution, and sale of cannabis for the adult-use and medical markets; sells wines, beers, and spirits through wholly owned liquor stores; and private sale of recreational cannabis through wholly owned and franchised retail cannabis stores.