SNDL Inc. (NASDAQ:SNDL – Get Free Report) shares fell 1.4% during mid-day trading on Friday . The company traded as low as $1.4350 and last traded at $1.45. 877,828 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 2,430,360 shares. The stock had previously closed at $1.47.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on SNDL. Zacks Research lowered SNDL from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SNDL in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, SNDL currently has a consensus rating of “Reduce” and a consensus price target of $5.00.
Check Out Our Latest Stock Report on SNDL
SNDL Stock Performance
SNDL (NASDAQ:SNDL – Get Free Report) last posted its quarterly earnings results on Thursday, March 12th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. The business had revenue of $183.87 million for the quarter, compared to analyst estimates of $257.97 million. SNDL had a negative return on equity of 1.02% and a negative net margin of 1.19%. On average, analysts anticipate that SNDL Inc. will post -0.01 earnings per share for the current year.
Institutional Investors Weigh In On SNDL
Several institutional investors and hedge funds have recently made changes to their positions in SNDL. Cubist Systematic Strategies LLC acquired a new stake in shares of SNDL during the 1st quarter valued at approximately $130,000. Goldman Sachs Group Inc. raised its position in shares of SNDL by 17.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 424,317 shares of the company’s stock valued at $598,000 after acquiring an additional 62,004 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of SNDL during the 2nd quarter valued at approximately $85,000. Qube Research & Technologies Ltd raised its position in shares of SNDL by 78.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 354,965 shares of the company’s stock valued at $430,000 after acquiring an additional 155,854 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of SNDL by 7.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,853,517 shares of the company’s stock valued at $5,873,000 after acquiring an additional 338,278 shares in the last quarter.
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.
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