SNDL (NASDAQ:SNDL) Shares Up 1.2% - Here's What Happened

SNDL Inc. (NASDAQ:SNDL - Get Free Report)'s share price was up 1.2% during trading on Friday . The stock traded as high as $1.68 and last traded at $1.66. Approximately 3,052,929 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 4,763,855 shares. The stock had previously closed at $1.64.Analysts Set New Price TargetsCannabis: One Stock to Play the MovementSeveral brokerages recently commented on SNDL. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of SNDL in a research report on Wednesday, October 8th. Wall Street Zen cut shares of SNDL from a "buy" rating to a "hold" rating in a research note on Saturday, October 4th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $4.50.Get Our Latest Report on SNDLSNDL Trading Up 1.2%Will This New Development Mean A Big Rally In Cannabis Stocks?The company's 50-day moving average is $1.77 and its 200-day moving average is $1.96. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.54 and a current ratio of 5.04. The firm has a market cap of $430.95 million, a price-to-earnings ratio of -6.38 and a beta of 0.67. SNDL (NASDAQ:SNDL - Get Free Report) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.04) earnings per share for the quarter. SNDL had a negative net margin of 9.66% and a negative return on equity of 8.28%. The company had revenue of $175.35 million during the quarter, compared to analyst estimates of $242.98 million. On average, research analysts predict that SNDL Inc. will post -0.09 earnings per share for the current year. Institutional Trading of SNDLWhatever You Believe About Sundial Growers, You Could Be RightSeveral institutional investors and hedge funds have recently added to or reduced their stakes in the company. Traynor Capital Management Inc. bought a new stake in SNDL in the third quarter valued at about $27,000. Hilton Capital Management LLC bought a new stake in shares of SNDL in the 2nd quarter valued at about $30,000. Oxford Asset Management LLP acquired a new position in SNDL during the second quarter valued at approximately $44,000. Caprock Group LLC bought a new stake in SNDL in the third quarter valued at approximately $67,000. Finally, SG Americas Securities LLC bought a new stake in SNDL in the fourth quarter valued at approximately $69,000. About SNDL (Get Free Report)SNDL Inc, formerly known as Sundial Growers Inc, is a Canada-based consumer packaged goods company focused on the production, manufacturing and distribution of cannabis products. Headquartered in Calgary, Alberta, SNDL operates multiple cultivation and processing facilities across Canada, including indoor and hybrid greenhouses in British Columbia and Ontario. The company serves both adult-use and medical cannabis markets, supplying provincial distributors as well as operating through its own wholesale and retail networks. The company's product portfolio spans dried flower, pre-rolls, vape cartridges, cannabis oils, edibles and infused beverages under a variety of in-house brands.Further ReadingFive stocks we like better than SNDLElon Taking SpaceX Public! $100 Pre-IPO Opportunity!Do not delete, read immediatelyA U.S. “birthright” claim worth trillions - activated quietlyFirst Time Since 2007: All Warnings ActiveBest $19 you’ll spend this year.This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in SNDL Right Now?Before you consider SNDL, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SNDL wasn't on the list.While SNDL currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here