OneDigital Investment Advisors LLC Takes Position in SNDL Inc. $SNDL

OneDigital Investment Advisors LLC acquired a new position in shares of SNDL Inc. (NASDAQ:SNDL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 585,135 shares of the company’s stock, valued at approximately $790,000. OneDigital Investment Advisors LLC owned approximately 0.23% of SNDL at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Private Advisor Group LLC acquired a new stake in SNDL during the 1st quarter valued at $28,000. Hilton Capital Management LLC purchased a new position in SNDL during the second quarter worth $30,000. PFG Investments LLC raised its holdings in shares of SNDL by 53.8% in the fourth quarter. PFG Investments LLC now owns 20,000 shares of the company’s stock worth $33,000 after acquiring an additional 7,000 shares during the last quarter. Oxford Asset Management LLP acquired a new position in shares of SNDL in the second quarter worth $44,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of SNDL in the first quarter valued at $45,000.

Analyst Upgrades and Downgrades

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

SNDL Stock Performance

Shares of SNDL stock opened at $1.23 on Wednesday. The firm’s 50-day simple moving average is $1.31 and its 200-day simple moving average is $1.41. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.76 and a quick ratio of 3.11. SNDL Inc. has a 1-year low of $1.17 and a 1-year high of $2.89. The firm has a market cap of $316.60 million, a P/E ratio of -20.50 and a beta of 0.93.

SNDL (NASDAQ:SNDL) last released its earnings results on Tuesday, July 28th. The company reported ($0.02) earnings per share (EPS) for the quarter. SNDL had a negative net margin of 2.36% and a negative return on equity of 2.01%. The company had revenue of $165.94 million during the quarter, compared to analysts’ expectations of $166.26 million. As a group, equities analysts forecast that SNDL Inc. will post -0.06 EPS for the current 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.