SNDL Inc. (NASDAQ:SNDL) Short Interest Update

SNDL Inc. (NASDAQ:SNDL) was the recipient of a significant decline in short interest in August. As of August 15th, there was short interest totalling 6,340,000 shares, a decline of 36.8% from the July 31st total of 10,030,000 shares. Approximately 2.4% of the company’s stock are short sold. Based on an average daily volume of 2,370,000 shares, the short-interest ratio is presently 2.7 days.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group started coverage on shares of SNDL in a report on Wednesday, July 17th. They issued a “speculative buy” rating and a $3.25 price objective for the company.

Institutional Trading of SNDL

Institutional investors and hedge funds have recently bought and sold shares of the business. Jeppson Wealth Management LLC purchased a new stake in SNDL in the 2nd quarter valued at $38,000. Tower Research Capital LLC TRC raised its position in SNDL by 163.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 28,507 shares of the company’s stock valued at $47,000 after purchasing an additional 17,669 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new stake in SNDL in the 1st quarter valued at $120,000. Magnus Financial Group LLC purchased a new stake in SNDL in the 2nd quarter valued at $228,000. Finally, Cable Car Capital LLC purchased a new stake in SNDL in the 4th quarter valued at $502,000.

SNDL Trading Down 5.8 %

NASDAQ SNDL opened at $1.96 on Wednesday. The company has a quick ratio of 2.98, a current ratio of 4.34 and a debt-to-equity ratio of 0.10. SNDL has a 52 week low of $1.30 and a 52 week high of $2.93. The stock has a market capitalization of $325.40 million, a PE ratio of -4.90 and a beta of 3.19. The firm has a 50 day moving average of $2.07 and a two-hundred day moving average of $1.97.

SNDL (NASDAQ:SNDL) last issued its earnings results on Thursday, August 1st. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. SNDL had a negative net margin of 12.36% and a negative return on equity of 8.30%. The business had revenue of $166.73 million during the quarter, compared to analysts’ expectations of $175.76 million. During the same quarter in the prior year, the business posted ($0.08) EPS. As a group, research analysts expect that SNDL will post -0.08 EPS for the current fiscal year.

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.