SNDL Target of Unusually Large Options Trading (NASDAQ:SNDL)

SNDL Inc. (NASDAQ:SNDLGet Free Report) saw some unusual options trading on Wednesday. Stock investors purchased 10,362 call options on the stock. This is an increase of 32% compared to the typical daily volume of 7,868 call options.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SNDL. Mirae Asset Global Investments Co. Ltd. raised its stake in SNDL by 82.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,922,425 shares of the company’s stock valued at $11,253,000 after purchasing an additional 2,673,469 shares during the last quarter. State Street Corp increased its stake in SNDL by 26.4% during the second quarter. State Street Corp now owns 2,955,619 shares of the company’s stock valued at $964,000 after acquiring an additional 618,088 shares during the period. Millennium Management LLC lifted its position in shares of SNDL by 3,346.5% in the 2nd quarter. Millennium Management LLC now owns 985,713 shares of the company’s stock worth $321,000 after acquiring an additional 957,113 shares during the period. Morgan Stanley grew its holdings in shares of SNDL by 17.9% during the 4th quarter. Morgan Stanley now owns 849,841 shares of the company’s stock worth $1,776,000 after purchasing an additional 129,086 shares in the last quarter. Finally, AdvisorShares Investments LLC increased its position in shares of SNDL by 12.4% during the fourth quarter. AdvisorShares Investments LLC now owns 809,212 shares of the company’s stock valued at $1,327,000 after purchasing an additional 89,222 shares during the period.

SNDL Stock Performance

Shares of NASDAQ SNDL traded up $0.22 during trading hours on Wednesday, hitting $2.26. 5,930,851 shares of the company’s stock were exchanged, compared to its average volume of 4,307,564. The company’s 50-day moving average price is $1.48 and its 200-day moving average price is $1.53. SNDL has a 1-year low of $1.25 and a 1-year high of $2.36. The stock has a market capitalization of $375.21 million, a price-to-earnings ratio of -4.44 and a beta of 3.41. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.94 and a quick ratio of 2.69.

About SNDL

(Get Free Report)

SNDL Inc engages in the production, distribution, and sale of cannabis products in Canada. The company operates through four segments: Liquor Retail, Cannabis Retail, Cannabis Operations, and Investments. 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.

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