Sundial Growers (NASDAQ:SNDL) Lifted to Buy at Zacks Investment Research

Sundial Growers (NASDAQ:SNDLGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The firm presently has a $0.50 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 27.55% from the stock’s previous close.

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. “

SNDL has been the subject of several other reports. BMO Capital Markets upgraded shares of Sundial Growers from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $0.60 to $0.70 in a research report on Tuesday, May 3rd. Atb Cap Markets upgraded shares of Sundial Growers from a “sector perform” rating to an “outperform” rating in a report on Tuesday, May 17th.

Shares of SNDL opened at $0.39 on Wednesday. Sundial Growers has a 52-week low of $0.34 and a 52-week high of $1.49. The company has a market capitalization of $650.81 million, a PE ratio of -6.53 and a beta of 5.12. The stock has a fifty day simple moving average of $0.52 and a two-hundred day simple moving average of $0.55. The company has a quick ratio of 4.73, a current ratio of 5.97 and a debt-to-equity ratio of 0.15.

Institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. purchased a new position in Sundial Growers during the second quarter worth about $42,000. Flow Traders U.S. LLC purchased a new position in shares of Sundial Growers during the 1st quarter worth approximately $38,000. Commerce Bank acquired a new stake in Sundial Growers in the 1st quarter valued at approximately $42,000. Mutual Advisors LLC raised its position in Sundial Growers by 63.1% in the fourth quarter. Mutual Advisors LLC now owns 64,600 shares of the company’s stock valued at $37,000 after purchasing an additional 25,000 shares during the period. Finally, Ausdal Financial Partners Inc. lifted its stake in Sundial Growers by 61.1% during the fourth quarter. Ausdal Financial Partners Inc. now owns 65,200 shares of the company’s stock worth $38,000 after purchasing an additional 24,720 shares in the last quarter. Hedge funds and other institutional investors own 6.53% of the company’s stock.

Sundial Growers Company Profile (Get Rating)

Sundial Growers Inc engages in the production, distribution, and sale of cannabis products in Canada. The company operates through Cannabis Operations and Retail Operations segments. It engages in the cultivation, distribution, and sale of cannabis for the adult-use markets; and private sale of recreational cannabis through corporate owned and franchised retail cannabis stores.

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