SNDL Inc. (NASDAQ:SNDL – Get Free Report)’s stock price was up 2.4% on Friday . The company traded as high as $2.13 and last traded at $2.11. Approximately 1,078,948 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 4,375,688 shares. The stock had previously closed at $2.06.
Analyst Upgrades and Downgrades
Separately, Canaccord Genuity Group initiated coverage on shares of SNDL in a research note on Wednesday, July 17th. They set a “speculative buy” rating and a $3.25 price objective on the stock.
Check Out Our Latest Research Report on SNDL
SNDL Price Performance
SNDL (NASDAQ:SNDL – Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. The company had revenue of $166.73 million during the quarter, compared to the consensus estimate of $175.76 million. SNDL had a negative return on equity of 8.30% and a negative net margin of 12.36%. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Equities research analysts forecast that SNDL Inc. will post -0.08 EPS for the current year.
Institutional Trading of SNDL
Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its holdings in SNDL by 163.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 28,507 shares of the company’s stock valued at $47,000 after acquiring an additional 17,669 shares in the last quarter. Jeppson Wealth Management LLC acquired a new stake in shares of SNDL in the 2nd quarter valued at about $38,000. Vontobel Holding Ltd. raised its stake in shares of SNDL by 93.9% in the 4th quarter. Vontobel Holding Ltd. now owns 116,780 shares of the company’s stock valued at $192,000 after purchasing an additional 56,544 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of SNDL during the first quarter worth about $120,000. Finally, AdvisorShares Investments LLC grew its stake in SNDL by 12.4% in the fourth quarter. AdvisorShares Investments LLC now owns 809,212 shares of the company’s stock worth $1,327,000 after purchasing an additional 89,222 shares in the last quarter.
About SNDL
SNDL Inc engages in the production, distribution, and sale of cannabis products in Canada. The company operates through Liquor Retail, Cannabis Retail, Cannabis Operations, and Investments segments. 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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