SNDL Inc. (NASDAQ:SNDL) Shares Bought by Cannell Capital LLC

Cannell Capital LLC boosted its position in SNDL Inc. (NASDAQ:SNDL) by 23.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,176,305 shares of the company’s stock after acquiring an additional 1,945,045 shares during the period. SNDL accounts for about 3.7% of Cannell Capital LLC’s holdings, making the stock its 7th biggest position. Cannell Capital LLC owned approximately 3.87% of SNDL worth $18,216,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in SNDL in the 4th quarter valued at $25,000. EntryPoint Capital LLC bought a new stake in SNDL during the 4th quarter worth approximately $32,000. National Bank of Canada FI bought a new stake in SNDL during the fourth quarter worth $33,000. Headlands Technologies LLC lifted its stake in SNDL by 513.5% during the 4th quarter. Headlands Technologies LLC now owns 34,806 shares of the company’s stock valued at $62,000 after acquiring an additional 29,133 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in SNDL during the 4th quarter worth $69,000.

SNDL Stock Down 2.9 %

Shares of NASDAQ:SNDL opened at $1.33 on Tuesday. The company has a current ratio of 5.61, a quick ratio of 4.16 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $1.63 and a 200 day moving average price of $1.83. SNDL Inc. has a 12 month low of $1.26 and a 12 month high of $2.93. The company has a market cap of $349.49 million, a price-to-earnings ratio of -4.29 and a beta of 3.23.

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

Wall Street Analysts Forecast Growth

Separately, ATB Capital upped their price objective on shares of SNDL from $3.50 to $4.00 in a research report on Wednesday, March 19th.

SNDL 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.