SNDL (NASDAQ:SNDL) Trading Down 0.8% – What’s Next?

SNDL Inc. (NASDAQ:SNDL)’s share price fell 0.8% during mid-day trading on Friday . The company traded as low as $1.28 and last traded at $1.28. Approximately 886,411 shares changed hands during trading, a decline of 46% from the average daily volume of 1,635,052 shares. The stock had previously closed at $1.29.

Analysts Set New Price Targets

SNDL has been the topic of several recent research reports. Zacks Research upgraded shares of SNDL from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Weiss Ratings restated a “sell (e+)” rating on shares of SNDL in a research report on Thursday, June 11th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.00.

SNDL Trading Down 0.8%

The company has a market capitalization of $329.47 million, a P/E ratio of -42.67 and a beta of 0.92. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.25 and a current ratio of 4.84. The stock has a fifty day moving average of $1.40 and a 200 day moving average of $1.47.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SNDL. Tidal Investments LLC grew its stake 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 acquiring an additional 178,622 shares during the period. BNP Paribas Financial Markets raised its stake in SNDL by 7.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,853,517 shares of the company’s stock worth $5,873,000 after acquiring an additional 338,278 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in SNDL by 718.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,622,786 shares of the company’s stock worth $12,325,000 after acquiring an additional 4,057,790 shares during the period. AdvisorShares Investments LLC lifted its holdings 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 purchasing an additional 344,896 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in SNDL during the third quarter valued at approximately $5,039,000.

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.