SNDL (NASDAQ:SNDL) Stock Price Expected to Rise, ATB Capital Analyst Says

SNDL (NASDAQ:SNDL) had its price target upped by equities researchers at ATB Capital from $3.50 to $4.00 in a report released on Wednesday,BayStreet.CA reports. ATB Capital’s price objective would indicate a potential upside of 154.78% from the stock’s previous close.

SNDL Stock Performance

NASDAQ SNDL opened at $1.57 on Wednesday. The stock’s 50 day moving average is $1.71 and its 200 day moving average is $1.88. The firm has a market capitalization of $412.56 million, a PE ratio of -5.06 and a beta of 3.39. SNDL has a twelve month low of $1.40 and a twelve month high of $2.93. The company has a quick ratio of 4.16, a current ratio of 5.61 and a debt-to-equity ratio of 0.10.

SNDL (NASDAQ:SNDL) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 12.11% and a negative return on equity of 8.27%. Research analysts forecast that SNDL will post -0.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Cannell Capital LLC raised 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 valued at $18,216,000 after buying an additional 1,945,045 shares during the last quarter. Tidal Investments LLC raised its stake in SNDL by 5.0% during the third quarter. Tidal Investments LLC now owns 6,510,961 shares of the company’s stock valued at $13,413,000 after buying an additional 311,642 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of SNDL in the fourth quarter worth $7,357,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of SNDL by 41.3% in 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 during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of SNDL in the fourth quarter worth $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.