Sundial Growers Inc. [NASDAQ: SNDL] plunged by -$0.02 during the normal trading session on Friday and reaching a high of $0.8332 during the day while it closed the day at $0.80. The company report on July 20, 2021 that Sundial Growers Completes the Acquisition of Spiritleaf Retail Cannabis Network.
Sundial enters the Canadian cannabis retail space with the addition of the country’s largest single brand network with 100-plus retail locations.
Sundial Growers Inc. (Nasdaq: SNDL) (“Sundial” or the “Company”) is pleased to announce the completion of the previously disclosed arrangement (the “Arrangement”) whereby Sundial has acquired all of the issued and outstanding common shares of Inner Spirit Holdings Ltd. (CSE: ISH) (OTCQB: INSHF) (“Inner Spirit”) (“Inner Spirit Shares”) for consideration per Inner Spirit Share consisting of (i) $0.30 in cash and (ii) 0.0835 of a common share of Sundial.
Sundial Growers Inc. stock has also loss -1.82% of its value over the past 7 days. However, SNDL stock has declined by -4.54% in the 3 months of the year. Over the past six months meanwhile, it has gained 23.57% and gained 68.32% year-on date.
The market cap for SNDL stock reached $1.64 billion, with 1.86 billion shares outstanding and 1.86 billion shares in the current float. Compared to the average trading volume of 190.66M shares, SNDL reached a trading volume of 84255799 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Sundial Growers Inc. [SNDL]:
Canaccord Genuity have made an estimate for Sundial Growers Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on March 19, 2021. The new note on the price target was released on March 10, 2021, representing the official price target for Sundial Growers Inc. stock.
The Average True Range (ATR) for Sundial Growers Inc. is set at 0.06, with the Price to Sales ratio for SNDL stock in the period of the last 12 months amounting to 36.33. The Price to Book ratio for the last quarter was 1.37, with the Price to Cash per share for the same quarter was set at 0.35.
SNDL stock trade performance evaluation
Sundial Growers Inc. [SNDL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.82. With this latest performance, SNDL shares dropped by -20.30% in over the last four-week period, additionally plugging by 23.57% over the last 6 months – not to mention a rise of 14.04% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SNDL stock in for the last two-week period is set at 38.84, with the RSI for the last a single of trading hit 34.88, and the three-weeks RSI is set at 41.99 for Sundial Growers Inc. [SNDL]. The present Moving Average for the last 50 days of trading for this stock 0.92, while it was recorded at 0.83 for the last single week of trading, and 0.82 for the last 200 days.
Sundial Growers Inc. [SNDL]: An insightful look at the core fundamentals
Sundial Growers Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.50 and a Current Ratio set at 9.90.
Sundial Growers Inc. [SNDL]: Insider Ownership positions
There are presently around $57 million, or 5.00% of SNDL stock, in the hands of institutional investors. The top three institutional holders of SNDL stocks are: SUSQUEHANNA INTERNATIONAL GROUP, LLP with ownership of 11,669,264, which is approximately 84.899% of the company’s market cap and around 0.64% of the total institutional ownership; MORGAN STANLEY, holding 11,086,592 shares of the stock with an approximate value of $8.84 million in SNDL stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $7.22 million in SNDL stock with ownership of nearly New of the company’s market capitalization.
126 institutional holders increased their position in Sundial Growers Inc. [NASDAQ:SNDL] by around 55,307,181 shares. Additionally, 26 investors decreased positions by around 2,663,023 shares, while 11 investors held positions by with 13,316,544 shares. The mentioned changes placed institutional holdings at 71,286,748 shares, according to the latest SEC report filing. SNDL stock had 105 new institutional investments in for a total of 30,326,167 shares, while 14 institutional investors sold positions of 2,231,389 shares during the same period.