Sundial Growers (NASDAQ:SNDL) Trading 4.4% Higher

Sundial Growers Inc. (NASDAQ:SNDL) traded up 4.4% during trading on Friday . The stock traded as high as $1.08 and last traded at $1.08. 281,966 shares traded hands during mid-day trading, a decline of 100% from the average session volume of 402,747,969 shares. The stock had previously closed at $1.03.

Several research analysts have recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of Sundial Growers in a report on Wednesday, March 10th. They issued a “neutral” rating and a $1.15 price target for the company. BMO Capital Markets reaffirmed an “underperform” rating and issued a $0.40 price target on shares of Sundial Growers in a report on Tuesday, March 16th. Zacks Investment Research raised shares of Sundial Growers from a “sell” rating to a “hold” rating in a report on Thursday, May 13th. Finally, Canaccord Genuity upgraded shares of Sundial Growers from a “sell” rating to a “hold” rating in a research report on Thursday, May 13th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company has a consensus rating of “Hold” and an average target price of $0.80.

The company has a market cap of $1.75 billion, a P/E ratio of -1.06 and a beta of 6.25. The company has a 50-day moving average price of $0.90.

Sundial Growers (NASDAQ:SNDL) last released its quarterly earnings results on Thursday, March 18th. The company reported ($0.06) EPS for the quarter. Sundial Growers had a negative return on equity of 52.96% and a negative net margin of 591.62%. The company had revenue of $10.63 million for the quarter, compared to the consensus estimate of $10.07 million. Equities analysts anticipate that Sundial Growers Inc. will post 0.03 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in SNDL. Morgan Stanley raised its position in shares of Sundial Growers by 6,149.7% during the 1st quarter. Morgan Stanley now owns 11,086,592 shares of the company’s stock worth $12,527,000 after buying an additional 10,909,198 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Sundial Growers during the 1st quarter worth about $10,237,000. Renaissance Technologies LLC bought a new stake in shares of Sundial Growers during the 1st quarter worth about $7,403,000. Alpine Global Management LLC bought a new stake in shares of Sundial Growers in the 1st quarter worth approximately $3,289,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of Sundial Growers in the 1st quarter worth approximately $1,729,000. Institutional investors own 4.16% of the company’s stock.

Sundial Growers Company Profile (NASDAQ:SNDL)

Sundial Growers Inc engages in production and marketing of cannabis products for the adult-use market in Canada. It produces and distributes inhalable products, such as flower, pre-rolls, and vapes. The company offers its products under the Top Leaf, Sundial Cannabis, Palmetto, and Grasslands brands.

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