SNDL Inc. (NASDAQ:SNDL) Short Interest Down 19.1% in January

SNDL Inc. (NASDAQ:SNDL) saw a large drop in short interest in January. As of January 15th, there was short interest totaling 1,632,497 shares, a drop of 19.1% from the December 31st total of 2,016,881 shares. Based on an average daily trading volume, of 2,166,287 shares, the days-to-cover ratio is currently 0.8 days. Based on an average daily trading volume, of 2,166,287 shares, the days-to-cover ratio is currently 0.8 days.

SNDL Stock Up 2.9%

SNDL stock traded up $0.05 on Tuesday, hitting $1.58. 912,890 shares of the company’s stock were exchanged, compared to its average volume of 1,857,402. The firm has a 50 day moving average price of $1.72 and a two-hundred day moving average price of $2.00. SNDL has a 12-month low of $1.15 and a 12-month high of $2.89. The stock has a market cap of $413.88 million, a P/E ratio of -6.06 and a beta of 0.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.54 and a current ratio of 5.04.

SNDL (NASDAQ:SNDL) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $175.35 million for the quarter, compared to analyst estimates of $242.98 million. SNDL had a negative net margin of 9.66% and a negative return on equity of 8.28%. As a group, equities research analysts expect that SNDL will post -0.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SNDL in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $4.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Traynor Capital Management Inc. acquired a new position in SNDL in the third quarter valued at approximately $27,000. Hilton Capital Management LLC acquired a new position in SNDL during the second quarter worth $30,000. FSM Wealth Advisors LLC acquired a new stake in shares of SNDL in the fourth quarter valued at about $33,000. PFG Investments LLC boosted its holdings in SNDL by 53.8% in the 4th quarter. PFG Investments LLC now owns 20,000 shares of the company’s stock worth $33,000 after buying an additional 7,000 shares during the last quarter. Finally, Oxford Asset Management LLP purchased a new stake in SNDL during the 2nd quarter worth approximately $44,000.

About SNDL

SNDL Inc, formerly known as Sundial Growers Inc, is a Canada-based consumer packaged goods company focused on the production, manufacturing and distribution of cannabis products. Headquartered in Calgary, Alberta, SNDL operates multiple cultivation and processing facilities across Canada, including indoor and hybrid greenhouses in British Columbia and Ontario. The company serves both adult-use and medical cannabis markets, supplying provincial distributors as well as operating through its own wholesale and retail networks.

The company’s product portfolio spans dried flower, pre-rolls, vape cartridges, cannabis oils, edibles and infused beverages under a variety of in-house brands.