Sundial Growers (NASDAQ:SNDL) Shares Up 17.4%

Sundial Growers (NASDAQ:SNDL) shares shot up 17.4% during mid-day trading on Wednesday . The stock traded as high as $3.49 and last traded at $3.37, 4,572,573 shares changed hands during mid-day trading. An increase of 174% from the average session volume of 1,668,477 shares. The stock had previously closed at $2.87.

Several brokerages have issued reports on SNDL. BMO Capital Markets downgraded Sundial Growers from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $8.00 to $4.00 in a research report on Thursday, October 31st. Barclays began coverage on Sundial Growers in a research report on Friday, September 27th. They issued an “overweight” rating and a $7.00 price objective for the company.

The stock’s 50-day simple moving average is $2.55. The company has a quick ratio of 0.92, a current ratio of 1.13 and a debt-to-equity ratio of 0.27.

Sundial Growers (NASDAQ:SNDL) last issued its quarterly earnings data on Wednesday, November 13th. The company reported ($0.80) earnings per share (EPS) for the quarter. The business had revenue of $25.38 million during the quarter.

Institutional investors and hedge funds have recently modified their holdings of the business. Essex Investment Management Co. LLC bought a new position in Sundial Growers in the 3rd quarter valued at $72,000. Penserra Capital Management LLC acquired a new stake in shares of Sundial Growers in the 3rd quarter valued at $80,000. Point72 Asset Management L.P. acquired a new stake in shares of Sundial Growers in the 3rd quarter valued at $91,000. CAPROCK Group Inc. acquired a new stake in shares of Sundial Growers in the 3rd quarter valued at $110,000. Finally, Gainplan LLC acquired a new stake in shares of Sundial Growers in the 4th quarter valued at $196,000. Hedge funds and other institutional investors own 12.39% of the company’s stock.

Sundial Growers Company Profile (NASDAQ:SNDL)

Sundial Growers, Inc produces, distributes, and sells cannabis. It intends to target the premium segment of the adult-use cannabis market. The company was founded by Stanley J. Swiatek and is headquartered in Calgary, Canada.

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