SNDL Target of Unusually High Options Trading (NASDAQ:SNDL)

SNDL Inc. (NASDAQ:SNDL) was the target of unusually large options trading activity on Tuesday. Investors bought 26,606 call options on the stock. This represents an increase of approximately 145% compared to the average daily volume of 10,862 call options.

Institutional Trading of SNDL

A number of large investors have recently added to or reduced their stakes in SNDL. Mirae Asset Global Investments Co. Ltd. lifted its stake in SNDL by 82.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,922,425 shares of the company’s stock valued at $11,253,000 after acquiring an additional 2,673,469 shares during the last quarter. Cable Car Capital LLC bought a new position in shares of SNDL in the fourth quarter valued at about $502,000. AdvisorShares Investments LLC raised its position in shares of SNDL by 14.6% in the third quarter. AdvisorShares Investments LLC now owns 719,990 shares of the company’s stock valued at $1,368,000 after purchasing an additional 91,630 shares during the period. Cambria Investment Management L.P. raised its position in shares of SNDL by 44.1% in the third quarter. Cambria Investment Management L.P. now owns 245,840 shares of the company’s stock valued at $467,000 after purchasing an additional 75,285 shares during the period. Finally, Vontobel Holding Ltd. raised its position in shares of SNDL by 93.9% in the fourth quarter. Vontobel Holding Ltd. now owns 116,780 shares of the company’s stock valued at $192,000 after purchasing an additional 56,544 shares during the period.

SNDL Stock Performance

Shares of SNDL opened at $2.22 on Thursday. SNDL has a 12 month low of $1.25 and a 12 month high of $2.67. The firm has a fifty day simple moving average of $1.76 and a 200 day simple moving average of $1.57. The stock has a market capitalization of $368.56 million, a price-to-earnings ratio of -4.53 and a beta of 3.42. The company has a current ratio of 3.94, a quick ratio of 2.69 and a debt-to-equity ratio of 0.11.

SNDL (NASDAQ:SNDL) last announced its earnings results on Wednesday, March 20th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.10). SNDL had a negative return on equity of 11.40% and a negative net margin of 18.45%. The business had revenue of $182.51 million for the quarter, compared to analyst estimates of $178.85 million. Research analysts forecast that SNDL will post -0.05 EPS for the current fiscal year.

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.