SNDL (NASDAQ:SNDL) Price Target Raised to $4.00 at ATB Capital

SNDL (NASDAQ:SNDL) had its target price raised by ATB Capital from $3.50 to $4.00 in a research note published on Wednesday,BayStreet.CA reports.

SNDL Trading Up 0.6 %

Shares of SNDL opened at $1.58 on Wednesday. The company has a current ratio of 5.61, a quick ratio of 4.16 and a debt-to-equity ratio of 0.10. SNDL has a 12-month low of $1.42 and a 12-month high of $2.93. The firm has a 50-day moving average price of $1.70 and a 200 day moving average price of $1.88. The firm has a market capitalization of $415.19 million, a P/E ratio of -5.10 and a beta of 3.39.

SNDL (NASDAQ:SNDL) last announced its earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.18). The company had revenue of $179.06 million for the quarter, compared to analysts’ expectations of $248.10 million. SNDL had a negative return on equity of 8.27% and a negative net margin of 12.11%. Sell-side analysts forecast that SNDL will post -0.09 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Cannell Capital LLC boosted its stake in SNDL by 23.6% during the fourth quarter. Cannell Capital LLC now owns 10,176,305 shares of the company’s stock worth $18,216,000 after buying an additional 1,945,045 shares during the period. Tidal Investments LLC lifted its position in shares of SNDL by 5.0% during the third quarter. Tidal Investments LLC now owns 6,510,961 shares of the company’s stock worth $13,413,000 after purchasing an additional 311,642 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of SNDL during the fourth quarter worth about $7,357,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of SNDL by 41.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,095,205 shares of the company’s stock worth $3,750,000 after purchasing an additional 612,495 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of SNDL during the fourth quarter worth about $2,236,000.

SNDL Company Profile

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.