SNDL (NASDAQ:SNDL) Stock Price Down 2.2% – Should You Sell?

SNDL Inc. (NASDAQ:SNDL) shares fell 2.2% during trading on Tuesday. The stock traded as low as $1.3550 and last traded at $1.36. Approximately 1,945,780 shares changed hands during mid-day trading, an increase of 66% from the average daily volume of 1,169,498 shares. The stock had previously closed at $1.39.

Analysts Set New Price Targets

SNDL has been the subject of a number of analyst reports. Wall Street Zen lowered SNDL from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Weiss Ratings raised SNDL from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

SNDL Trading Down 2.3%

The business’s 50 day moving average price is $1.32 and its two-hundred day moving average price is $1.37. The company has a market capitalization of $324.32 million, a price-to-earnings ratio of -21.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.11 and a current ratio of 4.76.

SNDL (NASDAQ:SNDL) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.02) 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 for the quarter, compared to analyst estimates of $166.26 million. Equities analysts forecast that SNDL Inc. will post -0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SNDL

Hedge funds have recently modified their holdings of the company. Connective Capital Management LLC acquired a new stake in shares of SNDL in the second quarter valued at $129,000. Ewing Morris & Co. Investment Partners Ltd. grew its holdings in SNDL by 13.8% during the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 1,481,222 shares of the company’s stock worth $1,994,000 after acquiring an additional 180,000 shares during the period. Cannell Capital LLC bought a new stake in SNDL in the second quarter worth about $11,663,164. Bank of America Corp DE bought a new stake in SNDL in the second quarter worth about $217,000. Finally, Man Group plc acquired a new stake in SNDL in the 2nd quarter valued at about $1,228,000.

SNDL Company Profile

SNDL Inc (NASDAQ: SNDL) is a Canadian cannabis and liquor company headquartered in Calgary, Alberta. The company operates across the cannabis value chain, including cultivation, processing, manufacturing, distribution and retail, while also maintaining a network of liquor stores.

SNDL’s cannabis business offers products such as dried cannabis, pre-rolls, vapes, concentrates, edibles and beverages through brands that include SNDL, Sundial, Top Leaf, Palmetto and Grasslands. Its cannabis retail operations include banners such as Value Buds, Spiritleaf and Dutch Love.