SNDL (NASDAQ:SNDL) Trading 1.2% Higher – Still a Buy?

SNDL Inc. (NASDAQ:SNDL) shares shot up 1.2% during trading on Friday . The company traded as high as $1.68 and last traded at $1.66. 3,052,929 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 4,763,855 shares. The stock had previously closed at $1.64.

Wall Street Analysts Forecast Growth

SNDL has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of SNDL in a report on Wednesday, October 8th. Wall Street Zen cut SNDL from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, SNDL has an average rating of “Hold” and an average price target of $4.50.

SNDL Stock Performance

The company has a quick ratio of 3.54, a current ratio of 5.04 and a debt-to-equity ratio of 0.11. The stock has a 50 day simple moving average of $1.77 and a two-hundred day simple moving average of $1.96. The stock has a market capitalization of $430.95 million, a P/E ratio of -6.38 and a beta of 0.67.

SNDL (NASDAQ:SNDL) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $175.35 million during the quarter, compared to the consensus estimate of $242.98 million. SNDL had a negative net margin of 9.66% and a negative return on equity of 8.28%. On average, equities analysts forecast that SNDL Inc. will post -0.09 EPS for the current fiscal year.

Institutional Trading of SNDL

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of SNDL in the fourth quarter worth about $69,000. JPMorgan Chase & Co. acquired a new position in SNDL in the third quarter valued at $5,039,000. Cambria Investment Management L.P. lifted its stake in SNDL by 41.9% in the third quarter. Cambria Investment Management L.P. now owns 525,606 shares of the company’s stock valued at $1,409,000 after buying an additional 155,236 shares during the period. Connective Capital Management LLC bought a new position in SNDL during the third quarter worth $402,000. Finally, Centiva Capital LP bought a new position in SNDL in the third quarter worth approximately $323,000.

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.