SNDL (NASDAQ:SNDL) Price Target Raised to $4.00

SNDL (NASDAQ:SNDL) had its target price upped by ATB Capital from $3.50 to $4.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.

SNDL Stock Performance

SNDL opened at $1.58 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.61 and a quick ratio of 4.16. The firm has a fifty day moving average price of $1.70 and a 200 day moving average price of $1.88. SNDL has a 1 year low of $1.42 and a 1 year high of $2.93. The stock has a market cap of $415.19 million, a P/E ratio of -5.10 and a beta of 3.39.

SNDL (NASDAQ:SNDL) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share 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 analyst estimates of $248.10 million. SNDL had a negative return on equity of 8.27% and a negative net margin of 12.11%. Equities research analysts anticipate that SNDL will post -0.09 earnings per share for the current year.

Hedge Funds Weigh In On SNDL

A number of large investors have recently added to or reduced their stakes in SNDL. State Street Corp raised its position in SNDL by 1.5% during the third quarter. State Street Corp now owns 353,107 shares of the company’s stock worth $727,000 after acquiring an additional 5,246 shares during the period. Tidal Investments LLC grew its holdings 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 buying an additional 311,642 shares in the last quarter. Transform Wealth LLC purchased a new stake in shares of SNDL during the fourth quarter worth $87,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of SNDL during the fourth quarter worth $25,000. Finally, Newman Dignan & Sheerar Inc. grew its holdings in shares of SNDL by 18.4% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 64,420 shares of the company’s stock worth $115,000 after buying an additional 10,000 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.