Sundial Growers Inc. (NASDAQ:SNDL) Short Interest Update

Sundial Growers Inc. (NASDAQ:SNDLGet Rating) was the recipient of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 192,100,000 shares, a drop of 23.0% from the March 31st total of 249,330,000 shares. Currently, 13.9% of the company’s shares are sold short. Based on an average daily trading volume, of 98,980,000 shares, the days-to-cover ratio is presently 1.9 days.

Separately, Zacks Investment Research lowered Sundial Growers from a “hold” rating to a “sell” rating in a research report on Friday.

A number of large investors have recently added to or reduced their stakes in SNDL. Goldman Sachs Group Inc. bought a new stake in Sundial Growers during the second quarter valued at about $42,000. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Sundial Growers by 33.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 140,945 shares of the company’s stock worth $96,000 after acquiring an additional 35,535 shares during the period. Van ECK Associates Corp boosted its stake in shares of Sundial Growers by 24.1% in the third quarter. Van ECK Associates Corp now owns 181,105 shares of the company’s stock worth $123,000 after acquiring an additional 35,199 shares during the period. Transcend Wealth Collective LLC bought a new position in Sundial Growers during the third quarter valued at approximately $27,000. Finally, Moors & Cabot Inc. bought a new position in Sundial Growers during the third quarter valued at approximately $1,121,000. 5.19% of the stock is owned by institutional investors and hedge funds.

SNDL stock opened at $0.47 on Monday. Sundial Growers has a 1-year low of $0.40 and a 1-year high of $1.49. The business has a fifty day moving average price of $0.56 and a 200-day moving average price of $0.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 13.44 and a quick ratio of 12.83. The stock has a market capitalization of $779.31 million, a P/E ratio of -2.61 and a beta of 5.31.

About Sundial Growers (Get Rating)

Sundial Growers Inc engages in production and marketing of cannabis products for the adult-use market in Canada. It produces and distributes inhalable products, such as flower, pre-rolls, and vapes. The company offers its products under the Top Leaf, Sundial Cannabis, Palmetto, and Grasslands brands.

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