1,880,182 Shares in SNDL Inc. $SNDL Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. acquired a new stake in shares of SNDL Inc. (NASDAQ:SNDL) in the third quarter, HoldingsChannel reports. The institutional investor acquired 1,880,182 shares of the company’s stock, valued at approximately $5,039,000.

A number of other large investors have also added to or reduced their stakes in SNDL. Traynor Capital Management Inc. purchased a new stake in shares of SNDL in the third quarter worth $27,000. SkyView Investment Advisors LLC increased its holdings in shares of SNDL by 4.5% during the second quarter. SkyView Investment Advisors LLC now owns 288,301 shares of the company’s stock valued at $355,000 after acquiring an additional 12,467 shares in the last quarter. Bank of America Corp DE raised its position in shares of SNDL by 6.0% in the 3rd quarter. Bank of America Corp DE now owns 369,369 shares of the company’s stock worth $990,000 after purchasing an additional 20,931 shares during the last quarter. Corient Private Wealth LLC boosted its stake in SNDL by 54.5% in the 2nd quarter. Corient Private Wealth LLC now owns 60,728 shares of the company’s stock worth $73,000 after purchasing an additional 21,414 shares in the last quarter. Finally, Virtu Financial LLC grew its position in SNDL by 51.9% during the 3rd quarter. Virtu Financial LLC now owns 64,307 shares of the company’s stock valued at $172,000 after purchasing an additional 21,985 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of SNDL in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.00.

SNDL Stock Performance

SNDL stock opened at $1.33 on Thursday. The stock’s 50 day simple moving average is $1.49 and its 200 day simple moving average is $1.83. The company has a current ratio of 4.88, a quick ratio of 3.47 and a debt-to-equity ratio of 0.12. SNDL Inc. has a 12-month low of $1.15 and a 12-month high of $2.89. The stock has a market capitalization of $342.34 million, a PE ratio of -33.25 and a beta of 0.81.

SNDL (NASDAQ:SNDL) last posted its earnings results on Thursday, March 12th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. SNDL had a negative return on equity of 1.42% and a negative net margin of 1.64%.The business had revenue of $183.87 million during the quarter, compared to analyst estimates of $257.97 million. As a group, research analysts forecast that SNDL Inc. will post -0.09 earnings per share for the current fiscal year.

SNDL Profile

SNDL Inc, formerly known as Sundial Growers Inc, is a Canada-based consumer packaged goods company focused on the production, manufacturing and distribution of cannabis products. Headquartered in Calgary, Alberta, SNDL operates multiple cultivation and processing facilities across Canada, including indoor and hybrid greenhouses in British Columbia and Ontario. The company serves both adult-use and medical cannabis markets, supplying provincial distributors as well as operating through its own wholesale and retail networks.

The company’s product portfolio spans dried flower, pre-rolls, vape cartridges, cannabis oils, edibles and infused beverages under a variety of in-house brands.