SNDL (NASDAQ:SNDL) Shares Down 1.4% – Time to Sell?

Shares of SNDL Inc. (NASDAQ:SNDL) were down 1.4% during mid-day trading on Friday . The stock traded as low as $1.4350 and last traded at $1.45. Approximately 877,828 shares were traded during trading, a decline of 64% from the average daily volume of 2,430,360 shares. The stock had previously closed at $1.47.

Analysts Set New Price Targets

A number of research analysts recently commented on SNDL shares. Zacks Research downgraded SNDL from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Weiss Ratings restated a “sell (d-)” rating on shares of SNDL in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, SNDL currently has a consensus rating of “Reduce” and a consensus target price of $5.00.

SNDL Stock Performance

The stock has a market capitalization of $373.23 million, a P/E ratio of -48.33 and a beta of 0.88. The stock has a 50 day moving average of $1.42 and a 200 day moving average of $1.58. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.25 and a current ratio of 4.84.

SNDL (NASDAQ:SNDL) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $183.87 million during the quarter, compared to the consensus estimate of $257.97 million. SNDL had a negative return on equity of 1.02% and a negative net margin of 1.19%. Equities analysts predict that SNDL Inc. will post -0.01 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. bought a new position in shares of SNDL in the third quarter worth $5,039,000. AdvisorShares Investments LLC grew its stake in shares of SNDL by 203.6% in the third quarter. AdvisorShares Investments LLC now owns 3,292,492 shares of the company’s stock worth $8,824,000 after purchasing an additional 2,208,160 shares in the last quarter. WINTON GROUP Ltd grew its stake in shares of SNDL by 3,112.3% in the third quarter. WINTON GROUP Ltd now owns 354,508 shares of the company’s stock worth $950,000 after purchasing an additional 343,472 shares in the last quarter. Traynor Capital Management Inc. bought a new position in shares of SNDL in the third quarter worth $27,000. Finally, Leonteq Securities AG grew its stake in shares of SNDL by 10.7% in the first quarter. Leonteq Securities AG now owns 98,629 shares of the company’s stock worth $130,000 after purchasing an additional 9,557 shares in the last quarter.

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.