Sundial Growers (NASDAQ:SNDL) Rating Increased to Market Perform at BMO Capital Markets

Sundial Growers (NASDAQ:SNDL) was upgraded by BMO Capital Markets from an “underperform” rating to a “market perform” rating in a research note issued to investors on Monday, MarketBeat reports. The firm presently has a $1.00 price target on the stock. BMO Capital Markets’ price objective indicates a potential upside of 25.16% from the company’s previous close.

Separately, ValuEngine upgraded shares of Sundial Growers from a “hold” rating to a “buy” rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $5.13.

Shares of Sundial Growers stock opened at $0.80 on Monday. The stock has a market capitalization of $86.21 million and a P/E ratio of -0.30. The company has a quick ratio of 0.23, a current ratio of 0.52 and a debt-to-equity ratio of 0.09. The company has a 50-day simple moving average of $0.81 and a 200 day simple moving average of $1.35. Sundial Growers has a 12-month low of $0.37 and a 12-month high of $13.22.

Sundial Growers (NASDAQ:SNDL) last announced its earnings results on Friday, May 15th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.16). The firm had revenue of $23.04 million for the quarter. Sundial Growers had a negative return on equity of 189.82% and a negative net margin of 322.43%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Montreal Can acquired a new stake in Sundial Growers in the 4th quarter valued at about $39,000. Penserra Capital Management LLC grew its position in shares of Sundial Growers by 173.2% during the 4th quarter. Penserra Capital Management LLC now owns 45,896 shares of the company’s stock worth $61,000 after buying an additional 29,096 shares during the period. Royal Bank of Canada grew its position in shares of Sundial Growers by 102.3% during the 1st quarter. Royal Bank of Canada now owns 212,650 shares of the company’s stock worth $136,000 after buying an additional 107,533 shares during the period. CAPROCK Group Inc. grew its position in shares of Sundial Growers by 110.5% during the 1st quarter. CAPROCK Group Inc. now owns 220,000 shares of the company’s stock worth $141,000 after buying an additional 115,500 shares during the period. Finally, Oxford Asset Management LLP acquired a new stake in shares of Sundial Growers during the 4th quarter worth approximately $376,000. Hedge funds and other institutional investors own 10.67% of the company’s stock.

Sundial Growers Company Profile

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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