Renaissance Technologies LLC Takes Position in SNDL Inc. $SNDL

Renaissance Technologies LLC acquired a new position in shares of SNDL Inc. (NASDAQ:SNDL) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 602,225 shares of the company’s stock, valued at approximately $795,000. Renaissance Technologies LLC owned 0.23% of SNDL as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the business. Private Advisor Group LLC acquired a new position in SNDL in the first quarter worth about $28,000. Hilton Capital Management LLC acquired a new stake in SNDL during the second quarter valued at approximately $30,000. PFG Investments LLC raised its holdings in shares of SNDL by 53.8% in the 4th quarter. PFG Investments LLC now owns 20,000 shares of the company’s stock worth $33,000 after buying an additional 7,000 shares in the last quarter. Oxford Asset Management LLP acquired a new position in shares of SNDL in the 2nd quarter worth approximately $44,000. Finally, Hsbc Holdings PLC bought a new position in shares of SNDL during the 1st quarter worth approximately $45,000.

Wall Street Analyst Weigh In

Several brokerages recently commented on SNDL. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SNDL in a research note on Thursday, June 11th. Zacks Research upgraded SNDL from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, Wall Street Zen cut SNDL from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, SNDL presently has an average rating of “Hold” and a consensus target price of $5.00.

SNDL Stock Performance

Shares of NASDAQ:SNDL opened at $1.26 on Friday. SNDL Inc. has a twelve month low of $1.17 and a twelve month high of $2.89. The firm has a market cap of $324.32 million, a PE ratio of -21.00 and a beta of 0.93. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.11 and a current ratio of 4.76. The business has a fifty day moving average of $1.32 and a 200-day moving average of $1.41.

SNDL (NASDAQ:SNDL) last released its quarterly earnings results on Tuesday, July 28th. The company reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $165.94 million during the quarter, compared to the consensus estimate of $166.26 million. SNDL had a negative net margin of 2.36% and a negative return on equity of 2.01%. On average, equities research analysts predict that SNDL Inc. will post -0.06 EPS for the current fiscal year.

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.