SNDL (NASDAQ:SNDL) Trading Up 0.5% – Still a Buy?

by · The Cerbat Gem

SNDL Inc. (NASDAQ:SNDL – Get Free Report) was up 0.5% during mid-day trading on Wednesday . The stock traded as high as $1.96 and last traded at $1.95. Approximately 1,070,784 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 3,929,774 shares. The stock had previously closed at $1.94.

Analyst Ratings Changes

Separately, Canaccord Genuity Group started coverage on shares of SNDL in a research note on Wednesday, July 17th. They issued a “speculative buy” rating and a $3.25 target price for the company.

View Our Latest Report on SNDL

SNDL Stock Performance

The company’s fifty day simple moving average is $2.05 and its 200-day simple moving average is $2.10. The company has a quick ratio of 2.98, a current ratio of 4.34 and a debt-to-equity ratio of 0.10.

SNDL (NASDAQ:SNDL – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.02. The firm had revenue of $166.73 million during the quarter, compared to analyst estimates of $175.76 million. SNDL had a negative net margin of 12.36% and a negative return on equity of 8.30%. During the same quarter in the prior year, the business posted ($0.08) earnings per share. Analysts expect that SNDL Inc. will post -0.08 EPS for the current fiscal year.

Institutional Trading of SNDL

Institutional investors have recently bought and sold shares of the stock. Cable Car Capital LLC bought a new position in SNDL during the 4th quarter valued at about $502,000. Concurrent Investment Advisors LLC bought a new position in shares of SNDL in the first quarter valued at approximately $120,000. Tidal Investments LLC acquired a new position in shares of SNDL in the 1st quarter worth approximately $18,237,000. Magnus Financial Group LLC bought a new stake in SNDL during the 2nd quarter worth approximately $228,000. Finally, Jeppson Wealth Management LLC acquired a new stake in SNDL during the 2nd quarter valued at $38,000.

SNDL Company Profile

(Get Free Report)

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.

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