Van ECK Associates Corp Cuts Stock Holdings in SNDL Inc. (NASDAQ:SNDL)

Van ECK Associates Corp reduced its position in shares of SNDL Inc. (NASDAQ:SNDLGet Rating) by 90.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,268 shares of the company’s stock after selling 150,631 shares during the period. Van ECK Associates Corp’s holdings in SNDL were worth $33,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SNDL. FNY Investment Advisers LLC raised its holdings in SNDL by 1,910.0% during the third quarter. FNY Investment Advisers LLC now owns 12,060 shares of the company’s stock worth $26,000 after purchasing an additional 11,460 shares in the last quarter. Firethorn Wealth Partners LLC raised its holdings in SNDL by 39.7% during the second quarter. Firethorn Wealth Partners LLC now owns 15,230 shares of the company’s stock worth $35,000 after purchasing an additional 4,330 shares in the last quarter. Flow Traders U.S. LLC purchased a new position in SNDL during the first quarter worth about $38,000. Parametrica Management Ltd purchased a new position in SNDL during the second quarter worth about $40,000. Finally, Bank of Montreal Can raised its holdings in SNDL by 15.7% during the second quarter. Bank of Montreal Can now owns 136,857 shares of the company’s stock worth $52,000 after purchasing an additional 18,620 shares in the last quarter. 10.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald upped their target price on shares of SNDL from $3.56 to $3.60 and gave the stock a “neutral” rating in a research report on Monday, November 28th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, SNDL currently has an average rating of “Moderate Buy” and an average price target of $5.20.

SNDL Stock Up 3.6 %

SNDL stock opened at $2.30 on Friday. The company’s 50 day simple moving average is $2.39 and its 200-day simple moving average is $2.54. The firm has a market capitalization of $381.85 million, a PE ratio of -2.40 and a beta of 3.83. SNDL Inc. has a 12 month low of $1.95 and a 12 month high of $8.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.63 and a quick ratio of 4.78.

SNDL (NASDAQ:SNDLGet Rating) last released its quarterly earnings results on Monday, November 14th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). The business had revenue of $176.71 million for the quarter. SNDL had a negative net margin of 53.71% and a negative return on equity of 8.18%. Equities analysts expect that SNDL Inc. will post -0.36 earnings per share for the current fiscal year.

About SNDL

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SNDL 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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Institutional Ownership by Quarter for SNDL (NASDAQ:SNDL)

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