SNDL (NASDAQ:SNDL) Stock Breaks Above 50-Day Moving Average – Should You Sell?

SNDL Inc. (NASDAQ:SNDL)’s share price passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $1.32 and traded as high as $1.37. SNDL shares last traded at $1.35, with a volume of 2,565,512 shares changing hands.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Weiss Ratings upgraded SNDL from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 26th. Wall Street Zen downgraded SNDL from a “sell” rating to a “strong sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, SNDL has a consensus rating of “Reduce”.

SNDL Stock Performance

The company has a market capitalization of $347.49 million, a PE ratio of -7.94 and a beta of 0.98. The company has a current ratio of 3.92, a quick ratio of 2.34 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $1.32 and its 200-day simple moving average is $1.39.

SNDL (NASDAQ:SNDL) last issued its earnings results on Tuesday, October 27th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.14). The company had revenue of $167.18 million during the quarter, compared to the consensus estimate of $164.18 million. SNDL had a negative return on equity of 1.68% and a negative net margin of 6.39%. On average, research analysts predict that SNDL Inc. will post -0.20 earnings per share for the current year.

Institutional Trading of SNDL

A number of large investors have recently modified their holdings of SNDL. StoneX Group Inc. grew its stake in SNDL by 25.9% in the third quarter. StoneX Group Inc. now owns 42,128 shares of the company’s stock worth $54,000 after purchasing an additional 8,664 shares in the last quarter. State of Wyoming increased its holdings in SNDL by 739.3% during the 3rd quarter. State of Wyoming now owns 1,461,165 shares of the company’s stock worth $1,885,000 after purchasing an additional 1,287,074 shares during the period. Connective Capital Management LLC purchased a new position in SNDL during the 2nd quarter worth $129,000. Ewing Morris & Co. Investment Partners Ltd. raised its position in SNDL by 13.8% during the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 1,481,222 shares of the company’s stock valued at $1,994,000 after purchasing an additional 180,000 shares in the last quarter. Finally, Cannell Capital LLC bought a new stake in SNDL during the 2nd quarter valued at $11,663,164.

SNDL Company Profile

SNDL Inc is a Canada-based cannabis and liquor company headquartered in Calgary, Alberta. Formerly known as Sundial Growers Inc, the company began as a licensed cannabis producer and has expanded into cannabis cultivation, processing, branded product sales and retail operations.

SNDL offers cannabis products through brands that have included Sundial, Top Leaf, Palmetto and Value Buds. Its cannabis business serves the Canadian adult-use and medical markets through provincial distribution systems and company-operated or affiliated retail locations.