Wall Street Zen Upgrades SNDL (NASDAQ:SNDL) to Buy

Wall Street Zen upgraded shares of SNDL (NASDAQ:SNDL) from a hold rating to a buy rating in a report published on Friday morning.

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

SNDL Stock Performance

Shares of SNDL opened at $2.33 on Friday. SNDL has a one year low of $1.15 and a one year high of $2.74. The company has a market cap of $612.28 million, a PE ratio of -8.63 and a beta of 3.92. The stock has a 50-day moving average of $2.15 and a 200-day moving average of $1.64. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.03 and a quick ratio of 3.36.

SNDL (NASDAQ:SNDL) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $231.50 million. On average, equities research analysts predict that SNDL will post -0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in shares of SNDL by 36.0% during the fourth quarter. Bank of America Corp DE now owns 264,106 shares of the company’s stock valued at $473,000 after buying an additional 69,919 shares during the last quarter. Two Sigma Advisers LP purchased a new position in SNDL during the 4th quarter worth $47,000. Mackenzie Financial Corp purchased a new position in SNDL during the 4th quarter worth $35,000. OneDigital Investment Advisors LLC grew its stake in shares of SNDL by 3.7% in the 1st 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 in the last quarter. Finally, R Squared Ltd raised its holdings in shares of SNDL by 722.2% in the first quarter. R Squared Ltd now owns 35,520 shares of the company’s stock valued at $50,000 after purchasing an additional 31,200 shares during the last quarter.

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.