SNDL (NASDAQ:SNDL) Stock Price Down 0.8% – What’s Next?

Shares of SNDL Inc. (NASDAQ:SNDL) fell 0.8% on Friday . The company traded as low as $1.28 and last traded at $1.28. 886,411 shares traded hands during trading, a decline of 46% from the average daily volume of 1,635,052 shares. The stock had previously closed at $1.29.

Analyst Ratings Changes

SNDL has been the topic of several recent analyst reports. Zacks Research raised SNDL from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Weiss Ratings restated a “sell (e+)” rating on shares of SNDL in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.00.

SNDL Trading Down 0.8%

The company has a current ratio of 4.84, a quick ratio of 3.25 and a debt-to-equity ratio of 0.12. The company has a market cap of $329.47 million, a PE ratio of -42.67 and a beta of 0.92. The business’s 50-day simple moving average is $1.40 and its 200-day simple moving average is $1.47.

Institutional Trading of SNDL

A number of institutional investors have recently bought and sold shares of SNDL. Tidal Investments LLC raised its stake in shares of SNDL by 2.5% during the 2nd quarter. Tidal Investments LLC now owns 7,272,668 shares of the company’s stock worth $8,800,000 after purchasing an additional 178,622 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in SNDL by 7.5% in the second quarter. BNP Paribas Financial Markets now owns 4,853,517 shares of the company’s stock worth $5,873,000 after buying an additional 338,278 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in SNDL by 718.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,622,786 shares of the company’s stock worth $12,325,000 after buying an additional 4,057,790 shares during the last quarter. AdvisorShares Investments LLC raised its position in SNDL by 10.5% during the fourth quarter. AdvisorShares Investments LLC now owns 3,637,388 shares of the company’s stock valued at $6,038,000 after acquiring an additional 344,896 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new position in SNDL during the third quarter valued at approximately $5,039,000.

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.