Traders Buy Large Volume of Call Options on SNDL (NASDAQ:SNDL)

SNDL Inc. (NASDAQ:SNDL) was the recipient of unusually large options trading on Tuesday. Traders purchased 26,606 call options on the stock. This is an increase of approximately 145% compared to the average volume of 10,862 call options.

Institutional Trading of SNDL

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of SNDL by 82.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,922,425 shares of the company’s stock valued at $11,253,000 after purchasing an additional 2,673,469 shares during the period. Vontobel Holding Ltd. boosted its holdings in shares of SNDL by 93.9% in the fourth quarter. Vontobel Holding Ltd. now owns 116,780 shares of the company’s stock valued at $192,000 after acquiring an additional 56,544 shares during the period. Capital Advisors Inc. OK purchased a new position in shares of SNDL during the third quarter worth approximately $26,000. Commonwealth Equity Services LLC increased its holdings in shares of SNDL by 80.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 40,872 shares of the company’s stock valued at $78,000 after acquiring an additional 18,241 shares during the period. Finally, Cambria Investment Management L.P. raised its position in SNDL by 44.1% in the 3rd quarter. Cambria Investment Management L.P. now owns 245,840 shares of the company’s stock valued at $467,000 after purchasing an additional 75,285 shares during the last quarter.

SNDL Stock Performance

Shares of SNDL stock traded up $0.35 on Tuesday, reaching $2.36. 13,005,890 shares of the company were exchanged, compared to its average volume of 5,105,816. The stock’s 50 day moving average price is $1.73 and its 200-day moving average price is $1.56. SNDL has a 1-year low of $1.25 and a 1-year high of $2.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.69 and a current ratio of 3.94.

SNDL (NASDAQ:SNDL) last announced its quarterly earnings data on Wednesday, March 20th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.10). The firm had revenue of $182.51 million during the quarter, compared to analysts’ expectations of $178.85 million. SNDL had a negative net margin of 18.45% and a negative return on equity of 11.40%. Research analysts anticipate that SNDL will post -0.05 EPS for the current year.

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.