ATB Capital Forecasts Strong Price Appreciation for SNDL (NASDAQ:SNDL) Stock

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

SNDL Stock Performance

Shares of NASDAQ SNDL opened at $1.57 on Wednesday. The company has a market cap of $412.56 million, a P/E ratio of -5.06 and a beta of 3.39. SNDL has a 52-week low of $1.40 and a 52-week high of $2.93. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.16 and a current ratio of 5.61. The firm’s fifty day moving average is $1.71 and its two-hundred day moving average is $1.88.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SNDL. BNP Paribas Financial Markets purchased a new stake in SNDL during the fourth quarter valued at $7,357,000. Cannell Capital LLC raised its position in shares of SNDL by 23.6% during the 4th 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 in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of SNDL in the 4th quarter valued at about $2,236,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 acquiring an additional 612,495 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in SNDL during the fourth quarter worth approximately $584,000.

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.