SNDL (NASDAQ:SNDL) Hits New 12-Month High Following Analyst Upgrade

SNDL Inc. (NASDAQ:SNDL)’s share price hit a new 52-week high on Monday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The company traded as high as $2.78 and last traded at $2.78, with a volume of 4365282 shares. The stock had previously closed at $2.33.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SNDL. Bank of America Corp DE grew its holdings in shares of SNDL by 36.0% during the fourth quarter. Bank of America Corp DE now owns 264,106 shares of the company’s stock worth $473,000 after buying an additional 69,919 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in SNDL in the fourth quarter valued at $47,000. Mackenzie Financial Corp grew its holdings in SNDL by 735.7% during the first quarter. Mackenzie Financial Corp now owns 162,793 shares of the company’s stock worth $230,000 after purchasing an additional 143,312 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of SNDL by 17.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 424,317 shares of the company’s stock worth $598,000 after acquiring an additional 62,004 shares during the period. Finally, State of Wyoming increased its holdings in shares of SNDL by 14.5% in the first quarter. State of Wyoming now owns 650,510 shares of the company’s stock valued at $917,000 after purchasing an additional 82,326 shares during the last quarter.

SNDL Stock Up 17.6%

The company has a debt-to-equity ratio of 0.11, a current ratio of 5.03 and a quick ratio of 3.36. The company has a market cap of $720.02 million, a price-to-earnings ratio of -10.15 and a beta of 3.92. The firm has a 50-day moving average price of $2.17 and a 200 day moving average price of $1.65.

SNDL (NASDAQ:SNDL) last announced its earnings results on Thursday, July 31st. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. SNDL had a negative net margin of 10.38% and a negative return on equity of 8.58%. The company had revenue of $179.78 million during the quarter, compared to analysts’ expectations of $231.50 million. Sell-side analysts predict 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.