SNDL (NASDAQ:SNDL) Shares Up 0.5% – Here’s Why

SNDL Inc. (NASDAQ:SNDL) was up 0.5% on Friday . The stock traded as high as $1.95 and last traded at $1.91. Approximately 2,244,376 shares changed hands during trading, a decline of 27% from the average daily volume of 3,069,088 shares. The stock had previously closed at $1.90.

SNDL Stock Performance

The company has a current ratio of 5.61, a quick ratio of 4.16 and a debt-to-equity ratio of 0.10. The company has a market cap of $317.10 million, a P/E ratio of -6.16 and a beta of 3.18. The company has a 50 day moving average price of $1.93 and a 200-day moving average price of $2.01.

Hedge Funds Weigh In On SNDL

A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in shares of SNDL by 1.5% during the third quarter. State Street Corp now owns 353,107 shares of the company’s stock worth $727,000 after buying an additional 5,246 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of SNDL during the third quarter valued at about $33,000. Vontobel Holding Ltd. grew its holdings in shares of SNDL by 38.7% during the third quarter. Vontobel Holding Ltd. now owns 159,914 shares of the company’s stock worth $329,000 after purchasing an additional 44,579 shares during the last quarter. RMR Capital Management LLC acquired a new position in shares of SNDL in the third quarter valued at approximately $103,000. Finally, AdvisorShares Investments LLC raised its holdings in SNDL by 27.0% in the 2nd quarter. AdvisorShares Investments LLC now owns 1,409,212 shares of the company’s stock valued at $2,706,000 after buying an additional 300,000 shares during the last quarter.

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.