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.
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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