Straightline Group LLC Makes New Investment in SNDL Inc. (NASDAQ:SNDL)

Straightline Group LLC bought a new stake in SNDL Inc. (NASDAQ:SNDL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 28,271 shares of the company’s stock, valued at approximately $51,000.

A number of other institutional investors have also made changes to their positions in SNDL. EntryPoint Capital LLC bought a new stake in SNDL during the 4th quarter worth about $32,000. Tidal Investments LLC grew its stake in shares of SNDL by 5.0% during the third quarter. Tidal Investments LLC now owns 6,510,961 shares of the company’s stock valued at $13,413,000 after purchasing an additional 311,642 shares during the last quarter. Cannell Capital LLC increased its holdings in shares of SNDL by 23.6% in the fourth quarter. Cannell Capital LLC now owns 10,176,305 shares of the company’s stock valued at $18,216,000 after purchasing an additional 1,945,045 shares in the last quarter. Virtu Financial LLC bought a new position in SNDL in the 4th quarter worth approximately $187,000. Finally, SBI Securities Co. Ltd. acquired a new position in SNDL during the 4th quarter worth $69,000.

SNDL Stock Performance

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. SNDL Inc. has a 1-year low of $1.26 and a 1-year high of $2.93. The stock has a market capitalization of $349.49 million, a P/E ratio of -4.29 and a beta of 3.23. The business has a 50-day moving average price of $1.63 and a two-hundred day moving average price of $1.83.

SNDL (NASDAQ:SNDL) last announced its quarterly earnings data 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). SNDL had a negative net margin of 12.11% and a negative return on equity of 8.27%. The business had revenue of $179.06 million during the quarter, compared to analyst estimates of $248.10 million. Equities analysts predict that SNDL Inc. will post -0.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, ATB Capital lifted their target price on SNDL from $3.50 to $4.00 in a research note on Wednesday, March 19th.

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.