State of Wyoming grew its stake in shares of SNDL Inc. (NASDAQ:SNDL – Free Report) by 739.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,461,165 shares of the company’s stock after acquiring an additional 1,287,074 shares during the period. State of Wyoming’s holdings in SNDL were worth $1,885,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in SNDL. Cannell Capital LLC purchased a new position in shares of SNDL in the second quarter valued at $11,663,164. Ewing Morris & Co. Investment Partners Ltd. lifted its holdings in SNDL by 13.8% during the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 1,481,222 shares of the company’s stock worth $1,994,000 after purchasing an additional 180,000 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in SNDL by 14.4% during the 1st quarter. Lazard Asset Management LLC now owns 1,050,278 shares of the company’s stock worth $1,386,000 after purchasing an additional 132,171 shares in the last quarter. Man Group plc bought a new position in SNDL in the 2nd quarter worth about $1,228,000. Finally, Renaissance Technologies LLC bought a new position in SNDL in the 1st quarter worth about $795,000.
SNDL Stock Down 4.6%
Shares of NASDAQ:SNDL opened at $1.24 on Friday. The firm has a fifty day moving average price of $1.32 and a two-hundred day moving average price of $1.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.92 and a quick ratio of 3.11. SNDL Inc. has a one year low of $1.13 and a one year high of $2.34. The company has a market cap of $319.17 million, a price-to-earnings ratio of -7.29 and a beta of 0.93.
SNDL (NASDAQ:SNDL – Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.14). The firm had revenue of $167.18 million for the quarter, compared to analysts’ expectations of $164.18 million. SNDL had a negative net margin of 6.39% and a negative return on equity of 1.68%. Analysts anticipate that SNDL Inc. will post -0.20 EPS for the current fiscal year.
Analyst Ratings Changes
SNDL has been the subject of a number of recent analyst reports. Weiss Ratings raised SNDL from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 26th. Wall Street Zen downgraded shares of SNDL from a “sell” rating to a “strong sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, SNDL has a consensus rating of “Reduce”.
Get Our Latest Analysis on SNDL
About SNDL
SNDL Inc is a Canada-based cannabis and liquor company headquartered in Calgary, Alberta. Formerly known as Sundial Growers Inc, the company began as a licensed cannabis producer and has expanded into cannabis cultivation, processing, branded product sales and retail operations.
SNDL offers cannabis products through brands that have included Sundial, Top Leaf, Palmetto and Value Buds. Its cannabis business serves the Canadian adult-use and medical markets through provincial distribution systems and company-operated or affiliated retail locations.
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