SNDL (NASDAQ:SNDL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of SNDL (NASDAQ:SNDL) from a hold rating to a buy rating in a report released on Friday.

Separately, Alliance Global Partners started coverage on SNDL in a report on Wednesday, September 3rd. They set a “buy” rating and a $5.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $4.50.

SNDL Stock Down 5.3%

NASDAQ:SNDL opened at $2.33 on Friday. SNDL has a one year low of $1.15 and a one year high of $2.74. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.03 and a quick ratio of 3.36. The company has a market cap of $612.28 million, a PE ratio of -8.63 and a beta of 3.92. The firm’s 50 day simple moving average is $2.15 and its 200 day simple moving average is $1.64.

SNDL (NASDAQ:SNDL) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.05. SNDL had a negative net margin of 10.38% and a negative return on equity of 8.58%. The firm had revenue of $179.78 million during the quarter, compared to the consensus estimate of $231.50 million. On average, research analysts anticipate that SNDL will post -0.09 earnings per share for the current year.

Institutional Trading of SNDL

A number of institutional investors have recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in SNDL by 36.0% during the 4th quarter. Bank of America Corp DE now owns 264,106 shares of the company’s stock worth $473,000 after acquiring an additional 69,919 shares during the period. Two Sigma Advisers LP acquired a new stake in SNDL during the fourth quarter worth approximately $47,000. Mackenzie Financial Corp increased its holdings in SNDL by 735.7% in the first quarter. Mackenzie Financial Corp now owns 162,793 shares of the company’s stock worth $230,000 after purchasing an additional 143,312 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in SNDL by 17.1% in the first quarter. Goldman Sachs Group Inc. now owns 424,317 shares of the company’s stock worth $598,000 after purchasing an additional 62,004 shares in the last quarter. Finally, State of Wyoming lifted its stake in SNDL by 14.5% in the first quarter. State of Wyoming now owns 650,510 shares of the company’s stock valued at $917,000 after buying an additional 82,326 shares during the period.

SNDL Company Profile

SNDL Inc engages in the production, distribution, and sale of cannabis products in Canada. The company operates through Liquor Retail, Cannabis Retail, Cannabis Operations, and Investments segments. It engages in the cultivation, distribution, and sale of cannabis for the adult-use and medical markets; sells wines, beers, and spirits through wholly owned liquor stores; and private sale of recreational cannabis through wholly owned and franchised retail cannabis stores.