SNDL (NASDAQ:SNDL) Trading Down 7.6% – Time to Sell?

SNDL Inc. (NASDAQ:SNDL) traded down 7.6% during mid-day trading on Friday . The company traded as low as $2.63 and last traded at $2.61. 2,172,681 shares were traded during trading, a decline of 13% from the average session volume of 2,486,693 shares. The stock had previously closed at $2.82.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of SNDL from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Alliance Global Partners started coverage on shares of SNDL in a research note on Wednesday, September 3rd. They issued a “buy” rating and a $5.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of SNDL in a research note on Wednesday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, SNDL currently has an average rating of “Hold” and an average price target of $4.50.

SNDL Trading Down 10.6%

The company has a market capitalization of $662.21 million, a price-to-earnings ratio of -9.33 and a beta of 3.83. The company has a quick ratio of 3.36, a current ratio of 5.03 and a debt-to-equity ratio of 0.11. The company’s 50 day simple moving average is $2.36 and its two-hundred day simple moving average is $1.71.

SNDL (NASDAQ:SNDL) last announced its earnings results on Thursday, July 31st. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.05. The company had revenue of $179.78 million during the quarter, compared to the consensus estimate of $231.50 million. SNDL had a negative net margin of 10.38% and a negative return on equity of 8.58%. As a group, research analysts anticipate that SNDL Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SNDL

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hilton Capital Management LLC acquired a new stake in shares of SNDL during the second quarter worth $30,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of SNDL during the first quarter worth $30,000. Quantbot Technologies LP lifted its stake in shares of SNDL by 815.0% during the first quarter. Quantbot Technologies LP now owns 21,667 shares of the company’s stock worth $31,000 after buying an additional 19,299 shares during the period. Oxford Asset Management LLP acquired a new stake in shares of SNDL during the second quarter worth $44,000. Finally, R Squared Ltd lifted its stake in shares of SNDL by 722.2% during the first quarter. R Squared Ltd now owns 35,520 shares of the company’s stock worth $50,000 after buying an additional 31,200 shares during the period.

About SNDL

SNDL Inc engages in the production, distribution, and sale of cannabis products in Canada. The company operates through Liquor Retail, Cannabis Retail, Cannabis Operations, and Investments segments. It engages in the cultivation, distribution, and sale of cannabis for the adult-use and medical markets; sells wines, beers, and spirits through wholly owned liquor stores; and private sale of recreational cannabis through wholly owned and franchised retail cannabis stores.