Cannell Capital LLC Acquires 1,945,045 Shares of SNDL Inc. (NASDAQ:SNDL)

Cannell Capital LLC grew its holdings in SNDL Inc. (NASDAQ:SNDL - Free Report) by 23.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,176,305 shares of the company's stock after purchasing an additional 1,945,045 shares during the quarter. SNDL accounts for about 3.7% of Cannell Capital LLC's holdings, making the stock its 7th biggest holding. Cannell Capital LLC owned about 3.87% of SNDL worth $18,216,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. increased its position in shares of SNDL by 1.3% during the fourth quarter. Invesco Ltd. now owns 806,812 shares of the company's stock worth $1,444,000 after acquiring an additional 10,134 shares during the period. Headlands Technologies LLC grew its stake in SNDL by 513.5% during the 4th quarter. Headlands Technologies LLC now owns 34,806 shares of the company's stock worth $62,000 after purchasing an additional 29,133 shares in the last quarter. OLD Mission Capital LLC increased its holdings in SNDL by 22.2% during the 4th quarter. OLD Mission Capital LLC now owns 112,085 shares of the company's stock worth $201,000 after purchasing an additional 20,385 shares during the period. National Bank of Canada FI acquired a new stake in SNDL in the 4th quarter valued at about $33,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of SNDL in the 4th quarter valued at about $2,236,000.

Analysts Set New Price Targets

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

SNDL Stock Down 0.7 %

SNDL stock traded down $0.01 during midday trading on Friday, reaching $1.36. The company's stock had a trading volume of 921,325 shares, compared to its average volume of 2,637,217. The company has a market cap of $357.38 million, a P/E ratio of -4.39 and a beta of 3.23. The company has a quick ratio of 4.16, a current ratio of 5.61 and a debt-to-equity ratio of 0.10. The business has a 50-day simple moving average of $1.59 and a 200-day simple moving average of $1.80. SNDL Inc. has a fifty-two week low of $1.26 and a fifty-two week high of $2.93.

SNDL (NASDAQ:SNDL - Get Free Report) last announced its quarterly earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.18). The company had revenue of $179.06 million during the quarter, compared to analysts' expectations of $248.10 million. SNDL had a negative net margin of 12.11% and a negative return on equity of 8.27%. On average, research analysts expect that SNDL Inc. will post -0.09 earnings per share for the current fiscal year.

About SNDL

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.