Traders Buy Large Volume of SNDL Call Options (NASDAQ:SNDL)

SNDL Inc. (NASDAQ:SNDL) saw unusually large options trading on Friday. Stock investors acquired 8,621 call options on the company. This is an increase of 141% compared to the average volume of 3,578 call options.

SNDL Trading Up 24.9%

NASDAQ:SNDL opened at $2.21 on Friday. SNDL has a 52 week low of $1.15 and a 52 week high of $2.89. The firm has a 50-day moving average price of $2.01 and a two-hundred day moving average price of $1.89. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.54 and a current ratio of 5.04. The firm has a market cap of $580.74 million, a price-to-earnings ratio of -8.50 and a beta of 0.58.

SNDL (NASDAQ:SNDL) last released its earnings results on Tuesday, November 4th. The company reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $175.35 million during the quarter, compared to the consensus estimate of $242.98 million. SNDL had a negative net margin of 9.66% and a negative return on equity of 8.28%. On average, equities analysts expect that SNDL will post -0.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SNDL. Tidal Investments LLC increased its position in shares of SNDL by 2.5% during the 2nd quarter. Tidal Investments LLC now owns 7,272,668 shares of the company’s stock valued at $8,800,000 after purchasing an additional 178,622 shares during the last quarter. BNP Paribas Financial Markets grew its position in SNDL by 7.5% during the second quarter. BNP Paribas Financial Markets now owns 4,853,517 shares of the company’s stock valued at $5,873,000 after buying an additional 338,278 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in SNDL by 718.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 4,622,786 shares of the company’s stock worth $12,325,000 after buying an additional 4,057,790 shares during the last quarter. AdvisorShares Investments LLC raised its position in SNDL by 203.6% in the third quarter. AdvisorShares Investments LLC now owns 3,292,492 shares of the company’s stock worth $8,824,000 after acquiring an additional 2,208,160 shares during the period. Finally, JPMorgan Chase & Co. bought a new stake in SNDL in the third quarter worth about $5,039,000.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SNDL shares. Alliance Global Partners initiated coverage on shares of SNDL in a research report on Wednesday, September 3rd. They issued a “buy” rating and a $5.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of SNDL in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered SNDL from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, SNDL presently has a consensus rating of “Hold” and a consensus price target of $4.50.

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.