Sundial Growers (NASDAQ:SNDL) Raised to Hold at Zacks Investment Research

Sundial Growers (NASDAQ:SNDL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Sundial Growers Inc. operates as a pharmaceutical company. It produces and grows cannabis strains. Sundial Growers Inc. is based in Calgary, Canada. “

Several other equities analysts have also recently issued reports on the company. Atb Cap Markets raised Sundial Growers from an “underperform” rating to a “sector perform” rating in a report on Tuesday, July 20th. ATB Capital upgraded Sundial Growers from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, July 21st. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $0.80.

Shares of Sundial Growers stock opened at $0.70 on Wednesday. The stock has a 50 day moving average of $0.77 and a 200 day moving average of $0.91. Sundial Growers has a 12 month low of $0.14 and a 12 month high of $3.96. The firm has a market cap of $1.16 billion, a PE ratio of -1.21 and a beta of 6.18.

Sundial Growers (NASDAQ:SNDL) last issued its quarterly earnings results on Thursday, August 12th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $7.45 million during the quarter, compared to analyst estimates of $8.00 million. Sundial Growers had a negative return on equity of 23.14% and a negative net margin of 707.37%. On average, sell-side analysts predict that Sundial Growers will post -0.08 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its position in Sundial Growers by 982.5% in the second quarter. Renaissance Technologies LLC now owns 70,918,251 shares of the company’s stock valued at $67,301,000 after purchasing an additional 64,366,672 shares during the period. Morgan Stanley lifted its position in shares of Sundial Growers by 6,149.7% during the 1st quarter. Morgan Stanley now owns 11,086,592 shares of the company’s stock valued at $12,527,000 after acquiring an additional 10,909,198 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Sundial Growers during the 1st quarter valued at approximately $10,237,000. Alpine Global Management LLC purchased a new position in shares of Sundial Growers during the 1st quarter worth approximately $3,289,000. Finally, GMT Capital Corp purchased a new position in shares of Sundial Growers during the 2nd quarter worth approximately $2,003,000. Institutional investors and hedge funds own 9.23% of the company’s stock.

About Sundial Growers

Sundial Growers, Inc engages in the production and distribution of flower, pre-rolls and vapes. The firm offers licensed producer, ACMPR, cannabis, medical cannabis, health and wellness, and cannabis extracts. The company was founded by Stanley J. Swiatek and is headquartered in Calgary, Canada.

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Analyst Recommendations for Sundial Growers (NASDAQ:SNDL)

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