SNDL Inc (NASDAQ: SNDL) Loses -36.69% From High. Why That Could Change?

With over 3.58 million SNDL Inc (SNDL) shares trading Tuesday and a closing price of $1.57 on the day, the dollar volume was approximately $5.63 million. The shares have shown a positive half year performance of 19.85% and its price on 12/26/23 gained nearly 1.95%. Currently, there are 260.49M common shares owned by the public and among those 258.65M shares have been available to trade.

However, the script later moved the day high at 1.6000, up 1.95%. The company’s stock has a 5-day price change of 10.56% and -21.11% over the past three months. SNDL shares are trading -24.88% year to date (YTD), with the 12-month market performance down to -22.66% lower. It has a 12-month low price of $1.25 and touched a high of $2.48 over the same period. SNDL has an average intraday trading volume of 2.96 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 7.66%, 6.91%, and 0.27% respectively.

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Institutional ownership of SNDL Inc (NASDAQ: SNDL) shares accounts for 7.77% of the company’s 260.49M shares outstanding.

It has a market capitalization of $408.97M and a beta (3y monthly) value of 3.39. The earnings-per-share (ttm) stands at -$0.65. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.98% over the week and 4.98% 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 -$0.22 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 82.45%, and 98.31% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate SNDL Inc (SNDL) as a “Strong Buy” at a consensus score of 1.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 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.

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