SNDL Inc. (NASDAQ:SNDL) Short Interest Update

SNDL Inc. (NASDAQ:SNDL) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 2,152,216 shares, an increase of 25.6% from the February 26th total of 1,713,567 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average trading volume of 1,155,492 shares, the days-to-cover ratio is currently 1.9 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of SNDL in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, SNDL currently has an average rating of “Hold” and an average target price of $5.00.

Hedge Funds Weigh In On SNDL

Hedge funds and other institutional investors have recently modified their holdings of the company. Traynor Capital Management Inc. acquired a new stake in shares of SNDL in the 3rd quarter worth about $27,000. FSM Wealth Advisors LLC bought a new stake in SNDL in the 4th quarter valued at about $33,000. PFG Investments LLC boosted its stake in SNDL by 53.8% during the 4th quarter. PFG Investments LLC now owns 20,000 shares of the company’s stock valued at $33,000 after purchasing an additional 7,000 shares during the period. Hilton Capital Management LLC bought a new position in SNDL in the 2nd quarter worth about $30,000. Finally, Caprock Group LLC bought a new position in SNDL in the 3rd quarter worth about $67,000.

SNDL Stock Up 2.3%

Shares of SNDL stock opened at $1.32 on Wednesday. The company has a current ratio of 4.88, a quick ratio of 3.47 and a debt-to-equity ratio of 0.12. The business’s 50 day simple moving average is $1.50 and its 200-day simple moving average is $1.83. The stock has a market capitalization of $339.77 million, a price-to-earnings ratio of -33.00 and a beta of 0.73. SNDL has a twelve month low of $1.15 and a twelve month high of $2.89.

SNDL (NASDAQ:SNDL) last released its quarterly earnings data on Thursday, March 12th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $183.87 million during the quarter, compared to analyst estimates of $257.97 million. SNDL had a negative return on equity of 1.42% and a negative net margin of 1.64%. Equities research analysts forecast that SNDL will post -0.09 earnings per share for the current year.

About SNDL

SNDL Inc, formerly known as Sundial Growers Inc, is a Canada-based consumer packaged goods company focused on the production, manufacturing and distribution of cannabis products. Headquartered in Calgary, Alberta, SNDL operates multiple cultivation and processing facilities across Canada, including indoor and hybrid greenhouses in British Columbia and Ontario. The company serves both adult-use and medical cannabis markets, supplying provincial distributors as well as operating through its own wholesale and retail networks.

The company’s product portfolio spans dried flower, pre-rolls, vape cartridges, cannabis oils, edibles and infused beverages under a variety of in-house brands.