Millennium Management LLC Sells 113,883 Shares of SNDL Inc. (NASDAQ:SNDL)

Millennium Management LLC trimmed its stake in SNDL Inc. (NASDAQ:SNDL) by 37.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 190,915 shares of the company’s stock after selling 113,883 shares during the quarter. Millennium Management LLC owned approximately 0.07% of SNDL worth $342,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of SNDL. Invesco Ltd. increased its holdings in shares of SNDL by 1.3% during the 4th quarter. Invesco Ltd. now owns 806,812 shares of the company’s stock worth $1,444,000 after acquiring an additional 10,134 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of SNDL during the 4th quarter worth approximately $77,000. EntryPoint Capital LLC acquired a new position in shares of SNDL during the 4th quarter worth approximately $32,000. Cannell Capital LLC increased its holdings in shares of SNDL by 23.6% during the 4th quarter. Cannell Capital LLC now owns 10,176,305 shares of the company’s stock worth $18,216,000 after acquiring an additional 1,945,045 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new position in shares of SNDL during the 4th quarter worth approximately $404,000.

Analyst Ratings Changes

Separately, ATB Capital raised their target price on shares of SNDL from $3.50 to $4.00 in a research note on Wednesday, March 19th.

SNDL Stock Performance

NASDAQ SNDL opened at $1.32 on Wednesday. The firm has a 50-day moving average of $1.34 and a 200-day moving average of $1.60. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.16 and a current ratio of 5.61. The stock has a market cap of $346.86 million, a PE ratio of -4.26 and a beta of 3.45. SNDL Inc. has a 52-week low of $1.24 and a 52-week high of $2.40.

SNDL (NASDAQ:SNDL) last posted its earnings results on Thursday, May 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $142.38 million during the quarter, compared to analysts’ expectations of $214.60 million. SNDL had a negative net margin of 12.11% and a negative return on equity of 8.27%. On average, sell-side analysts anticipate that SNDL Inc. will post -0.09 EPS for the current year.

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.