Stock Traders Purchase High Volume of SNDL Call Options (NASDAQ:SNDL)

SNDL Inc. (NASDAQ:SNDL) saw some unusual options trading activity on Monday. Traders purchased 23,477 call options on the company. This represents an increase of approximately 57% compared to the typical volume of 14,916 call options.

Hedge Funds Weigh In On SNDL

Several large investors have recently made changes to their positions in the company. Firethorn Wealth Partners LLC raised its holdings in SNDL by 51.4% during the 4th quarter. Firethorn Wealth Partners LLC now owns 60,778 shares of the company’s stock worth $100,000 after purchasing an additional 20,628 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of SNDL by 93.9% during the fourth quarter. Vontobel Holding Ltd. now owns 116,780 shares of the company’s stock worth $192,000 after buying an additional 56,544 shares during the last quarter. Tower Research Capital LLC TRC lifted 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 buying an additional 17,669 shares during the period. AdvisorShares Investments LLC boosted its stake in SNDL by 12.4% in the fourth quarter. AdvisorShares Investments LLC now owns 809,212 shares of the company’s stock valued at $1,327,000 after acquiring an additional 89,222 shares during the last quarter. Finally, Cable Car Capital LLC acquired a new stake in SNDL during the 4th quarter worth $502,000.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group began coverage on SNDL in a report on Wednesday, July 17th. They set a “speculative buy” rating and a $3.25 price target for the company.

SNDL Price Performance

NASDAQ:SNDL remained flat at $2.24 during mid-day trading on Monday. 1,484,296 shares of the company’s stock were exchanged, compared to its average volume of 4,671,679. SNDL has a 12-month low of $1.30 and a 12-month high of $2.93. The company has a quick ratio of 2.86, a current ratio of 4.22 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average is $2.08 and its two-hundred day moving average is $1.86.

SNDL (NASDAQ:SNDL) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. SNDL had a negative net margin of 14.99% and a negative return on equity of 9.98%. The business had revenue of $146.69 million during the quarter, compared to analyst estimates of $154.88 million. During the same quarter last year, the business posted ($0.07) earnings per share. As a group, research analysts forecast that SNDL will post -0.01 EPS for the current fiscal year.

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.