SNDL (NASDAQ:SNDL) Trading Up 2% – Still a Buy?

SNDL Inc. (NASDAQ:SNDL)’s share price rose 2% during trading on Thursday . The stock traded as high as $1.29 and last traded at $1.28. Approximately 1,102,764 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 1,953,468 shares. The stock had previously closed at $1.25.

Analyst Upgrades and Downgrades

Separately, ATB Capital increased their target price on SNDL from $3.50 to $4.00 in a research note on Wednesday, March 19th.

SNDL Stock Up 2.0%

The company has a market cap of $335.04 million, a PE ratio of -4.40 and a beta of 3.40. The company’s 50 day moving average is $1.31 and its 200 day moving average is $1.53. The company has a current ratio of 4.62, a quick ratio of 3.12 and a debt-to-equity ratio of 0.10.

SNDL (NASDAQ:SNDL) last issued its earnings results on Thursday, May 1st. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. SNDL had a negative net margin of 11.48% and a negative return on equity of 9.02%. The business had revenue of $142.38 million for the quarter, compared to the consensus estimate of $214.60 million. As a group, analysts predict that SNDL Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SNDL. BNP Paribas Financial Markets bought a new stake in SNDL during the 4th quarter valued at $7,357,000. Cannell Capital LLC increased its stake in shares of SNDL by 23.6% during the fourth quarter. Cannell Capital LLC now owns 10,176,305 shares of the company’s stock valued at $18,216,000 after buying an additional 1,945,045 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of SNDL during the fourth quarter valued at $2,236,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of SNDL by 41.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,095,205 shares of the company’s stock valued at $3,750,000 after acquiring an additional 612,495 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in SNDL in the fourth quarter worth about $584,000.

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.