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.
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.
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.
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.