Wall Street Zen cut shares of SNDL (NASDAQ:SNDL – Free Report) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.
Other research analysts have also issued research reports about the company. Zacks Research raised SNDL from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of SNDL in a report on Thursday, June 11th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.00.
Check Out Our Latest Research Report on SNDL
SNDL Price Performance
SNDL (NASDAQ:SNDL – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported ($0.02) earnings per share (EPS) for the quarter. The company had revenue of $165.94 million for the quarter, compared to the consensus estimate of $166.26 million. SNDL had a negative net margin of 2.36% and a negative return on equity of 2.01%. As a group, equities research analysts forecast that SNDL will post -0.06 EPS for the current year.
Institutional Trading of SNDL
Several institutional investors and hedge funds have recently modified their holdings of the business. AdvisorShares Investments LLC raised its stake in SNDL by 10.5% in the fourth quarter. AdvisorShares Investments LLC now owns 3,637,388 shares of the company’s stock valued at $6,038,000 after purchasing an additional 344,896 shares in the last quarter. Leonteq Securities AG purchased a new position in SNDL in the 4th quarter worth approximately $148,000. PFG Investments LLC increased its holdings in shares of 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. SG Americas Securities LLC bought a new position in shares of SNDL in the 4th quarter worth $69,000. Finally, FSM Wealth Advisors LLC purchased a new stake in shares of SNDL during the 4th quarter valued at $33,000.
SNDL Company Profile
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.
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