SNDL (NASDAQ:SNDL) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of SNDL (NASDAQ:SNDL) from a strong sell rating to a hold rating in a report published on Thursday morning,Zacks.com reports.

SNDL Stock Down 0.7%

Shares of NASDAQ:SNDL opened at $1.48 on Thursday. The firm has a fifty day moving average price of $1.42 and a two-hundred day moving average price of $1.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.84 and a quick ratio of 3.25. SNDL has a one year low of $1.15 and a one year high of $2.89. The company has a market cap of $380.95 million, a price-to-earnings ratio of -49.33 and a beta of 0.88.

SNDL (NASDAQ:SNDL) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The firm had revenue of $183.87 million for the quarter, compared to analysts’ expectations of $257.97 million. SNDL had a negative net margin of 1.19% and a negative return on equity of 1.02%. Analysts anticipate that SNDL will post -0.01 EPS for the current fiscal year.

Institutional Trading of SNDL

Several institutional investors and hedge funds have recently made changes to their positions in SNDL. Arrowstreet Capital Limited Partnership raised its position in shares of SNDL by 718.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,622,786 shares of the company’s stock valued at $12,325,000 after buying an additional 4,057,790 shares in the last quarter. AdvisorShares Investments LLC raised its position in shares of SNDL by 203.6% during the 3rd quarter. AdvisorShares Investments LLC now owns 3,292,492 shares of the company’s stock valued at $8,824,000 after buying an additional 2,208,160 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of SNDL during the 3rd quarter valued at $5,039,000. HRT Financial LP purchased a new stake in shares of SNDL during the 4th quarter valued at $1,346,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of SNDL during the 3rd quarter valued at $2,130,000.

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.