SNDL (NASDAQ:SNDL) Stock Rating Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of SNDL (NASDAQ:SNDL) from a sell rating to a strong sell rating in a research note published on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings upgraded SNDL from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 26th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, SNDL has a consensus rating of “Reduce”.

SNDL Price Performance

NASDAQ:SNDL opened at $1.24 on Friday. SNDL has a 52-week low of $1.13 and a 52-week high of $2.34. The company has a market cap of $319.18 million, a P/E ratio of -7.29 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.11 and a current ratio of 3.92. The stock’s 50-day simple moving average is $1.32 and its 200 day simple moving average is $1.40.

SNDL (NASDAQ:SNDL) last issued its quarterly earnings results on Tuesday, October 27th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.14). SNDL had a negative net margin of 6.39% and a negative return on equity of 1.68%. The company had revenue of $167.18 million for the quarter, compared to analyst estimates of $164.18 million. As a group, sell-side analysts forecast that SNDL will post -0.20 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SNDL. Cannell Capital LLC bought a new position in shares of SNDL in the second quarter worth $11,663,164. Ewing Morris & Co. Investment Partners Ltd. raised its stake in SNDL by 13.8% during the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 1,481,222 shares of the company’s stock worth $1,994,000 after acquiring an additional 180,000 shares in the last quarter. State of Wyoming increased its position in SNDL by 739.3% during the 3rd quarter. State of Wyoming now owns 1,461,165 shares of the company’s stock worth $1,885,000 after purchasing an additional 1,287,074 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of SNDL by 14.4% during the first quarter. Lazard Asset Management LLC now owns 1,050,278 shares of the company’s stock worth $1,386,000 after buying an additional 132,171 shares in the last quarter. Finally, Man Group plc acquired a new position in shares of SNDL during the second quarter worth $1,228,000.

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.