SNDL (NASDAQ:SNDL) Upgraded at Zacks Research

SNDL (NASDAQ:SNDL – Get Free Report) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

SNDL Price Performance

Shares of SNDL stock opened at $1.48 on Thursday. The company has a market capitalization of $380.95 million, a PE ratio of -49.33 and a beta of 0.88. The firm has a fifty day simple moving average of $1.42 and a 200-day simple moving average of $1.57. The company has a current ratio of 4.84, a quick ratio of 3.25 and a debt-to-equity ratio of 0.12. SNDL has a twelve month low of $1.15 and a twelve month high of $2.89.

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SNDL (NASDAQ:SNDL – Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $183.87 million during the quarter, compared to analyst estimates of $257.97 million. SNDL had a negative net margin of 1.19% and a negative return on equity of 1.02%. Equities research analysts anticipate that SNDL will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SNDL

Several large investors have recently made changes to their positions in the business. Tidal Investments LLC boosted its position in shares of SNDL by 2.5% during the 2nd quarter. Tidal Investments LLC now owns 7,272,668 shares of the company’s stock valued at $8,800,000 after purchasing an additional 178,622 shares in the last quarter. BNP Paribas Financial Markets boosted 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 purchasing an additional 338,278 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of SNDL by 718.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,622,786 shares of the company’s stock valued at $12,325,000 after purchasing an additional 4,057,790 shares in the last quarter. AdvisorShares Investments LLC lifted its stake in SNDL by 10.5% during the fourth quarter. AdvisorShares Investments LLC now owns 3,637,388 shares of the company’s stock valued at $6,038,000 after buying an additional 344,896 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in SNDL during the third quarter valued at about $5,039,000.

SNDL Company Profile

(Get Free Report)

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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