SNDL (NASDAQ:SNDL) Shares Gap After Analysts Upgrade


SNDL Inc. (NASDAQ:SNDL – Get Rating) stock price rose ahead of trading on Tuesday after Cantor Fitzgerald raised his price target on the stock to $3.56. The stock had previously closed at $3.17, but opened at $3.26. Cantor Fitzgerald currently has a neutral rating on the title. SNDL shares last traded at $3.10, with volume of 62,524 shares changing hands.

SNDL has been the subject of several other reports. Canaccord Genuity Group upgraded SNDL from a “hold” rating to a “speculative buy” rating and set a target price of $5.00 on the stock in a research report released Tuesday. BMO Capital Markets upgraded SNDL from an “underperforming” rating to a “market performing” rating and raised its price target for the stock from $6.00 to $7.00 in a rating of search for Tuesday, May 3. Rowe upgraded SNDL from a “hold” to a “buy” rating in a research note on Tuesday. Finally, Atb Cap Markets upgraded SNDL from an “sector performance” rating to an “outperform” rating in a Tuesday, May 17 research note. Two analysts gave the stock a hold rating and three gave the stock a buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.19.

Institutional investors weigh on SNDL

Large investors have recently changed their stock holdings. ETF Managers Group LLC acquired a new equity stake in SNDL in the fourth quarter valued at approximately $17,533,000. Exchange Traded Concepts LLC acquired a new equity stake in SNDL in the first quarter worth approximately $55,000. CAPROCK Group Inc. increased its stake in SNDL shares by 33.3% in the first quarter. CAPROCK Group Inc. now owns 1,240,000 shares of the company valued at $868,000 after purchasing an additional 310,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in SNDL shares by 46.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,532,176 shares of the company valued at $16,472,000 after purchasing an additional 7,481,759 shares last quarter. Finally, Newman Dignan & Sheerar Inc. increased its stake in SNDL shares by 19.1% in the first quarter. Newman Dignan & Sheerar Inc. now owns 224,420 shares of the company valued at $157,000 after buying an additional 36,000 shares last quarter. Institutional investors and hedge funds hold 6.53% of the company’s shares.

SNDL trades down 3.5%

The company has a 50-day simple moving average of $3.10 and a two-hundred-day simple moving average of $4.44. The company has a current ratio of 5.97, a quick ratio of 4.73 and a debt ratio of 0.15. The stock has a market capitalization of $508.03 million, a price-earnings ratio of -4.78 and a beta of 4.34.

SNDL (NASDAQ:SNDL – Get Rating) last released its quarterly earnings data on Monday, May 16. The company reported ($0.20) earnings per share for the quarter. SNDL has a negative net margin of 55.81% and a negative return on equity of 6.04%. The company had revenue of $13.89 million for the quarter. As a group, equity analysts expect SNDL Inc. to post -0.22 EPS for the current year.

SNDL Company Profile

(Get a rating)

SNDL Inc is engaged in the production, distribution and sale of cannabis products in Canada. The Company operates through Cannabis Operations and Retail Operations segments. It is engaged in the cultivation, distribution and sale of cannabis for adult use markets; and the private sale of recreational cannabis through company-owned or franchised cannabis retail stores.

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