SNDL (NASDAQ:SNDL) Rating Lowered to Strong Sell at Wall Street Zen

SNDL (NASDAQ:SNDL) was downgraded by equities researchers at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report released on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of SNDL from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 26th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, SNDL currently has an average rating of “Reduce”.

SNDL Price Performance

NASDAQ:SNDL opened at $1.24 on Friday. The company has a market cap of $319.18 million, a PE ratio of -7.29 and a beta of 0.98. The company’s 50 day moving average is $1.32 and its two-hundred day moving average is $1.40. SNDL has a twelve month low of $1.13 and a twelve month high of $2.34. The company has a current ratio of 3.92, a quick ratio of 2.34 and a debt-to-equity ratio of 0.13.

SNDL (NASDAQ:SNDL) last issued its earnings results on Tuesday, October 27th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.14). SNDL had a negative return on equity of 1.68% and a negative net margin of 6.39%. The company had revenue of $167.18 million during the quarter, compared to analyst estimates of $164.18 million. Analysts anticipate that SNDL will post -0.20 EPS for the current year.

Institutional Investors Weigh In On SNDL

A number of institutional investors and hedge funds have recently modified their holdings of SNDL. Cannell Capital LLC bought a new stake in shares of SNDL during the 2nd quarter valued at $11,663,164. State of Wyoming increased its holdings in shares of SNDL by 739.3% in the 3rd quarter. State of Wyoming now owns 1,461,165 shares of the company’s stock valued at $1,885,000 after acquiring an additional 1,287,074 shares during the period. Man Group plc purchased a new position in SNDL in the 2nd quarter worth approximately $1,228,000. Renaissance Technologies LLC purchased a new stake in SNDL in the 1st quarter valued at $795,000. Finally, OneDigital Investment Advisors LLC purchased a new position in shares of SNDL in the 2nd quarter worth about $790,000.

SNDL Company Profile

SNDL Inc is a Canada-based cannabis and liquor company headquartered in Calgary, Alberta. Formerly known as Sundial Growers Inc, the company began as a licensed cannabis producer and has expanded into cannabis cultivation, processing, branded product sales and retail operations.

SNDL offers cannabis products through brands that have included Sundial, Top Leaf, Palmetto and Value Buds. Its cannabis business serves the Canadian adult-use and medical markets through provincial distribution systems and company-operated or affiliated retail locations.