SNDL (NASDAQ:SNDL) Rating Lowered to Hold at Wall Street Zen

SNDL (NASDAQ:SNDL) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other equities research analysts have also commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of SNDL in a research note on Saturday, September 27th. Alliance Global Partners initiated coverage on SNDL in a report on Wednesday, September 3rd. They set a “buy” rating and a $5.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.50.

SNDL Price Performance

Shares of NASDAQ SNDL opened at $2.58 on Friday. The stock’s 50-day simple moving average is $2.25 and its 200-day simple moving average is $1.68. The firm has a market capitalization of $677.97 million, a PE ratio of -9.56 and a beta of 3.83. SNDL has a fifty-two week low of $1.15 and a fifty-two week high of $2.79. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.36 and a current ratio of 5.03.

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

Institutional Trading of SNDL

A number of institutional investors have recently modified their holdings of the business. OneDigital Investment Advisors LLC grew its holdings in SNDL by 3.7% during the first quarter. OneDigital Investment Advisors LLC now owns 210,688 shares of the company’s stock worth $297,000 after acquiring an additional 7,558 shares during the period. SkyView Investment Advisors LLC boosted its position in shares of SNDL by 4.5% during the 2nd quarter. SkyView Investment Advisors LLC now owns 288,301 shares of the company’s stock worth $355,000 after purchasing an additional 12,467 shares in the last quarter. National Bank of Canada FI grew its stake in shares of SNDL by 102.7% during the 1st quarter. National Bank of Canada FI now owns 37,231 shares of the company’s stock worth $52,000 after purchasing an additional 18,864 shares during the period. Quantbot Technologies LP increased its holdings in shares of SNDL by 815.0% in the 1st quarter. Quantbot Technologies LP now owns 21,667 shares of the company’s stock valued at $31,000 after purchasing an additional 19,299 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in shares of SNDL in the fourth quarter valued at about $35,000.

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.