SNDL (NASDAQ:SNDL) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of SNDL (NASDAQ:SNDL) from a hold rating to a buy rating in a report released on Friday.

Separately, Alliance Global Partners initiated coverage on shares of SNDL in a report on Wednesday, September 3rd. They issued a “buy” rating and a $5.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $4.50.

SNDL Stock Performance

NASDAQ:SNDL opened at $2.33 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.36 and a current ratio of 5.03. The stock has a market capitalization of $612.28 million, a P/E ratio of -8.63 and a beta of 3.92. The company has a 50 day moving average price of $2.15 and a 200 day moving average price of $1.64. SNDL has a fifty-two week low of $1.15 and a fifty-two week high of $2.74.

SNDL (NASDAQ:SNDL) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The firm had revenue of $179.78 million during the quarter, compared to analysts’ expectations of $231.50 million. SNDL had a negative net margin of 10.38% and a negative return on equity of 8.58%. Equities research analysts forecast that SNDL will post -0.09 EPS for the current year.

Institutional Trading of SNDL

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp acquired a new position in SNDL during the fourth quarter worth about $35,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of SNDL in the first quarter valued at approximately $30,000. Quantbot Technologies LP increased its position in SNDL by 815.0% during the first quarter. Quantbot Technologies LP now owns 21,667 shares of the company’s stock worth $31,000 after purchasing an additional 19,299 shares during the last quarter. Hilton Capital Management LLC acquired a new position in SNDL during the second quarter worth approximately $30,000. Finally, Two Sigma Advisers LP acquired a new position in SNDL during the fourth quarter worth approximately $47,000.

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.