ETF Managers Group LLC recently announced the acquisition of new stake in SNDL Inc (NASDAQ:SNDL). This fresh investment now brings its stake to 2.77% valued currently at $13.71 million. In addition, Global X Management Co. LLC raised its holdings by 2.71 million to 3.76 million shares. And Morgan Stanley & Co. LLC has lifted its position by 8.73% or 65335.0 shares – to 0.81 million shares.
With over 5.44 million SNDL Inc (SNDL) shares trading Monday and a closing price of $1.60 on the day, the dollar volume was approximately $8.7 million. The shares have shown a negative half year performance of -5.33% and its price on 11/13/23 gained nearly 11.89%. Currently, there are 260.26M common shares owned by the public and among those 258.42M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for SNDL have a consensus price objective of $4.48. The analysts have set the share’s price value over the next 12 months at a high of $4.48 and a low of $4.48. The average price target is 51.22% above its recent price level and an upside to the estimated low will see the stock gain 64.29% over that period. But an upside of 64.29% will see the stock hit the forecast high price target while median target price for the stock is $4.48.
The top 3 mutual fund holders in SNDL Inc are ETFMG Alternative Harvest ETF, Global X Cannabis ETF, and Horizons Marijuana Life Sciences. ETFMG Alternative Harvest ETF owns 11.23 million shares of the company’s stock, all valued at over $21.34 million. Horizons Marijuana Life Sciences sold 23412.0 shares to bring its total holdings to over 2.16 million shares at a value of $4.11 million. Horizons Marijuana Life Sciences now owns shares totaling to 0.83% of the shares outstanding.
Shares of SNDL Inc (NASDAQ: SNDL) opened at $1.46, up $0.03 from a prior closing price of $1.43. However, the script later moved the day high at 1.6100, up 11.89%. The company’s stock has a 5-day price change of 6.67% and 1.27% over the past three months. SNDL shares are trading -23.44% year to date (YTD), with the 12-month market performance down to -33.33% lower. It has a 12-month low price of $1.25 and touched a high of $3.36 over the same period. SNDL has an average intraday trading volume of 4.51 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.66%, -6.39%, and -2.88% respectively.
Institutional ownership of SNDL Inc (NASDAQ: SNDL) shares accounts for 7.69% of the company’s 260.26M shares outstanding. Mutual fund holders own 0.00%, while other institutional holders and individual stakeholders account for 7.69% and — respectively.
It has a market capitalization of $416.42M and a beta (3y monthly) value of 3.50. The earnings-per-share (ttm) stands at -$0.91. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.87% over the week and 5.83% over the month.
Analysts forecast that SNDL Inc (SNDL) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and -$0.04 for 2023. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.15 a year ago. Earnings per share for the fiscal year are expected to increase by 93.82%, and 210.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate SNDL Inc (SNDL) as a “Strong Buy” at a consensus score of 1.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SNDL, a number of firms have released research notes about the stock. Canaccord Genuity stated their Speculative Buy rating for the stock in a research note on August 16, 2022, with the firm’s price target at $5.
