Bank of America Corp DE Buys 69,919 Shares of SNDL Inc. (NASDAQ:SNDL)

Bank of America Corp DE grew its holdings in shares of SNDL Inc. (NASDAQ:SNDL) by 36.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 264,106 shares of the company’s stock after buying an additional 69,919 shares during the quarter. Bank of America Corp DE owned 0.10% of SNDL worth $473,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SNDL. Cannell Capital LLC grew its holdings in shares of SNDL by 23.6% in the fourth quarter. Cannell Capital LLC now owns 10,176,305 shares of the company’s stock valued at $18,216,000 after acquiring an additional 1,945,045 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in SNDL during the 4th quarter valued at $7,357,000. Arrowstreet Capital Limited Partnership purchased a new stake in SNDL during the 4th quarter worth about $2,236,000. Invesco Ltd. lifted its stake in SNDL by 1.3% in the 4th quarter. Invesco Ltd. now owns 806,812 shares of the company’s stock worth $1,444,000 after purchasing an additional 10,134 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in SNDL in the fourth quarter valued at approximately $404,000.

SNDL Stock Up 0.8%

Shares of NASDAQ SNDL opened at $1.33 on Thursday. The company has a market cap of $349.49 million, a price-to-earnings ratio of -4.29 and a beta of 3.45. The firm’s fifty day moving average is $1.34 and its 200 day moving average is $1.60. The company has a quick ratio of 4.16, a current ratio of 5.61 and a debt-to-equity ratio of 0.10. SNDL Inc. has a 52 week low of $1.24 and a 52 week high of $2.40.

SNDL (NASDAQ:SNDL) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. SNDL had a negative net margin of 12.11% and a negative return on equity of 8.27%. The business had revenue of $142.38 million for the quarter, compared to the consensus estimate of $214.60 million. On average, equities research analysts expect that SNDL Inc. will post -0.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, ATB Capital raised their price objective on SNDL from $3.50 to $4.00 in a report on Wednesday, March 19th.

SNDL 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.