SNDL (NASDAQ:SNDL) Rating Lowered to “Sell” at Wall Street Zen

SNDL (NASDAQ:SNDL) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other equities analysts have also commented on the company. Zacks Research raised SNDL from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SNDL in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.00.

SNDL Price Performance

SNDL stock opened at $1.23 on Friday. SNDL has a fifty-two week low of $1.17 and a fifty-two week high of $2.89. The company has a market capitalization of $316.60 million, a price-to-earnings ratio of -20.50 and a beta of 0.93. The business’s 50 day moving average price is $1.36 and its two-hundred day moving average price is $1.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.11 and a current ratio of 4.76.

SNDL (NASDAQ:SNDL) last released its earnings results on Tuesday, July 28th. The company reported ($0.02) EPS for the quarter. The firm had revenue of $165.94 million during the quarter, compared to analysts’ expectations of $166.26 million. SNDL had a negative net margin of 2.36% and a negative return on equity of 2.01%. As a group, analysts forecast that SNDL will post -0.06 earnings per share for the current fiscal year.

Institutional Trading of SNDL

A number of hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC grew its stake in shares of SNDL by 14.4% in the 1st quarter. Lazard Asset Management LLC now owns 1,050,278 shares of the company’s stock worth $1,386,000 after buying an additional 132,171 shares during the last quarter. Renaissance Technologies LLC purchased a new position in SNDL during the first quarter valued at $795,000. State of Wyoming raised its stake in SNDL by 50.5% during the first quarter. State of Wyoming now owns 653,604 shares of the company’s stock valued at $863,000 after buying an additional 219,454 shares during the last quarter. Hsbc Holdings PLC bought a new stake in SNDL in the first quarter worth $45,000. Finally, R Squared Ltd boosted its holdings in SNDL by 24.5% in the first quarter. R Squared Ltd now owns 92,503 shares of the company’s stock worth $122,000 after acquiring an additional 18,181 shares in the last quarter.

SNDL Company Profile

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.