Sundial Growers (NASDAQ:SNDL) Sees Unusually-High Trading Volume

Sundial Growers (NASDAQ:SNDL) saw unusually-high trading volume on Friday . Approximately 2,950,640 shares changed hands during mid-day trading, an increase of 37% from the previous session’s volume of 2,160,921 shares.The stock last traded at $1.35 and had previously closed at $1.18.

SNDL has been the topic of a number of analyst reports. CIBC downgraded shares of Sundial Growers from a “neutral” rating to an “underperformer” rating in a research report on Thursday, January 30th. BMO Capital Markets downgraded shares of Sundial Growers from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $8.00 to $4.00 in a research report on Thursday, October 31st.

The firm has a 50-day moving average of $2.40. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.13.

Sundial Growers (NASDAQ:SNDL) last issued its quarterly earnings data on Wednesday, November 13th. The company reported ($0.80) earnings per share (EPS) for the quarter. The firm had revenue of $25.38 million for the quarter.

Institutional investors have recently modified their holdings of the company. Bank of Montreal Can purchased a new position in shares of Sundial Growers in the 4th quarter worth approximately $39,000. Kingsview Wealth Management LLC purchased a new position in shares of Sundial Growers in the 4th quarter worth approximately $45,000. Penserra Capital Management LLC grew its position in shares of Sundial Growers by 173.2% in the 4th quarter. Penserra Capital Management LLC now owns 45,896 shares of the company’s stock worth $61,000 after buying an additional 29,096 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in shares of Sundial Growers in the 3rd quarter worth approximately $72,000. Finally, Point72 Asset Management L.P. acquired a new stake in Sundial Growers in the 3rd quarter worth approximately $91,000. 12.76% of the stock is currently owned by hedge funds and other institutional investors.

About Sundial Growers (NASDAQ:SNDL)

Sundial Growers, Inc produces, distributes, and sells cannabis. It intends to target the premium segment of the adult-use cannabis market. The company was founded by Stanley J. Swiatek and is headquartered in Calgary, Canada.

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