Taking the lead: SNDL Inc. (SNDL)

SNDL Inc. (NASDAQ: SNDL) stock fell -0.85% on Tuesday to $2.33 against a previous-day closing price of $2.35. With 2.37 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.86 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $2.3799 whereas the lowest price it dropped to was $2.3000. The 52-week range on SNDL shows that it touched its highest point at $8.91 and its lowest point at $1.95 during that stretch. It currently has a 1-year price target of $4.15. Beta for the stock currently stands at 3.82.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SNDL was down-trending over the past week, with a drop of -0.85%, but this was up by 12.02% over a month. Three-month performance surged to 7.37% while six-month performance fell -21.65%. The stock lost -51.29% in the past year, while it has gained 11.48% so far this year. A look at the trailing 12-month EPS for SNDL yields -0.87 with Next year EPS estimates of -0.07. For the next quarter, that number is -0.04. This implies an EPS growth rate of 43.00% for this year and 90.60% for next year.

Float and Shares Shorts:

At present, 239.29 million SNDL shares are outstanding with a float of 236.52 million shares on hand for trading. On Oct 13, 2022, short shares totaled 21.35 million, which was 8.97% higher than short shares on Sep 14, 2022. In addition to Mr. Zachary Ryan George IV as the firm’s CEO & Non Independent Director, Mr. Andrew Stordeur serves as its Pres & COO.

Institutional Ownership:

Through their ownership of 8.35% of SNDL’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.02% of SNDL, in contrast to 0.51% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in SNDL with 5.29% of the stake, ETF Managers Group LLC holds 12,523,678 shares worth 12,523,678. A second-largest stockholder of SNDL, Global X Management Co. LLC, holds 1,935,539 shares, controlling over 0.82% of the firm’s shares. Morgan Stanley & Co. LLC is the third largest shareholder in SNDL, holding 711,929 shares or 0.30% stake. With a 5.27% stake in SNDL, the ETFMG Alternative Harvest ETF is the largest stakeholder. A total of 12,470,754 shares are owned by the mutual fund manager. The Horizons Marijuana Life Sciences, which owns about 0.57% of SNDL stock, is the second-largest Mutual Fund holder. It holds 1,354,501 shares valued at 2.83 million. Global X Cannabis ETF holds 0.44% of the stake in SNDL, owning 1,048,990 shares worth 2.19 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SNDL since 4 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SNDL analysts setting a high price target of $5.35 and a low target of $3.98, the average target price over the next 12 months is $4.65. Based on these targets, SNDL could surge 129.61% to reach the target high and rise by 70.82% to reach the target low. Reaching the average price target will result in a growth of 99.57% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SNDL will report FY 2022 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of -$0.72 being high and -$0.93 being low. For SNDL, this leads to a yearly average estimate of -$0.84. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. SNDL Inc. surprised analysts by -$0.29 when it reported -$0.31 EPS against a consensus estimate of -$0.02. The surprise factor in the prior quarter was -$0.27. Based on analyst estimates, the high estimate for the next quarter is $0.02 and the low estimate is -$0.03. The average estimate for the next quarter is thus -$0.01.

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