SNDL (NASDAQ:SNDL) Upgraded at Zacks Research

SNDL (NASDAQ:SNDL) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

SNDL Stock Performance

NASDAQ:SNDL opened at $1.48 on Thursday. SNDL has a 1-year low of $1.15 and a 1-year high of $2.89. The firm has a 50 day simple moving average of $1.42 and a 200-day simple moving average of $1.57. The firm has a market cap of $380.95 million, a PE ratio of -49.33 and a beta of 0.88. 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 (NASDAQ:SNDL) last released its earnings results on Thursday, March 12th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. SNDL had a negative net margin of 1.19% and a negative return on equity of 1.02%. The firm had revenue of $183.87 million during the quarter, compared to the consensus estimate of $257.97 million. On average, equities analysts expect that SNDL will post -0.01 EPS for the current year.

Institutional Investors Weigh In On SNDL

A number of institutional investors have recently bought and sold shares of the stock. PFG Investments LLC grew its stake in SNDL by 53.8% during the fourth quarter. PFG Investments LLC now owns 20,000 shares of the company’s stock worth $33,000 after buying an additional 7,000 shares during the period. SG Americas Securities LLC grew its stake in SNDL by 21.3% during the first quarter. SG Americas Securities LLC now owns 50,667 shares of the company’s stock worth $67,000 after buying an additional 8,899 shares during the period. Leonteq Securities AG grew its stake in SNDL by 10.7% during the first quarter. Leonteq Securities AG now owns 98,629 shares of the company’s stock worth $130,000 after buying an additional 9,557 shares during the period. Traynor Capital Management Inc. purchased a new stake in SNDL during the third quarter worth approximately $27,000. Finally, State Street Corp grew its stake in SNDL by 2.6% during the fourth quarter. State Street Corp now owns 432,441 shares of the company’s stock worth $718,000 after buying an additional 11,152 shares during the period.

About SNDL

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.