SNDL (NASDAQ:SNDL) Reaches New 1-Year High Following Analyst Upgrade

SNDL Inc. (NASDAQ:SNDL) shares reached a new 52-week high during mid-day trading on Monday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The company traded as high as $2.78 and last traded at $2.78, with a volume of 4365282 shares trading hands. The stock had previously closed at $2.33.

Separately, Alliance Global Partners started coverage on SNDL in a research report on Wednesday, September 3rd. They issued a “buy” rating and a $5.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $4.50.

Hedge Funds Weigh In On SNDL

Institutional investors and hedge funds have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in SNDL in the first quarter worth $30,000. Hilton Capital Management LLC acquired a new position in SNDL in the second quarter worth $30,000. Quantbot Technologies LP lifted its stake in shares of SNDL by 815.0% during the first quarter. Quantbot Technologies LP now owns 21,667 shares of the company’s stock valued at $31,000 after acquiring an additional 19,299 shares during the period. Mackenzie Financial Corp acquired a new position in shares of SNDL during the fourth quarter valued at $35,000. Finally, Oxford Asset Management LLP acquired a new position in shares of SNDL during the second quarter valued at $44,000.

SNDL Stock Up 18.2%

The company has a debt-to-equity ratio of 0.11, a current ratio of 5.03 and a quick ratio of 3.36. The firm has a market cap of $723.96 million, a price-to-earnings ratio of -10.20 and a beta of 3.92. The firm has a 50 day moving average price of $2.15 and a 200-day moving average price of $1.64.

SNDL (NASDAQ:SNDL) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.05. SNDL had a negative return on equity of 8.58% and a negative net margin of 10.38%.The business had revenue of $179.78 million for the quarter, compared to analyst estimates of $231.50 million. As a group, equities analysts predict that SNDL Inc. will post -0.09 EPS for the current fiscal year.

SNDL Company Profile

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.