BMO Capital Markets lifts Sundial Growers Inc. [SNDL] price estimate. Who else is bullish?


Sundial Growers Inc. [NASDAQ: SNDL] loss -3.07% or -0.01 points to close at $0.32 with a heavy trading volume of 36827108 shares. The company report on July 7, 2022 that Notice of Annual and Special Meeting on July 21, 2022.

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Sundial Growers Inc. (Nasdaq: SNDL) (“Sundial” or the “Company”) announces that its forthcoming Annual and Special Meeting of shareholders (the “Meeting”) will be held on July 21, 2022 at 1 p.m. MDT (3 p.m. EDT).

The current nominees for election to the Board of Directors (the “Board”), include existing board members Greg Mills, Zach George, Gregory Turnbull, Bryan Pinney, and Lori Ell. At the Meeting, the Company will also seek the approval of its shareholders to, among other items, consolidate all of its issued and outstanding shares (the “Consolidation”) on the basis of a consolidation ratio of between 10:1 and 25:1 (the “Consolidation Ratio”). Sundial is currently not in compliance with Nasdaq’s $1 minimum bid price requirements. The proposed Consolidation is expected to enable Sundial to avoid a delisting event that could cause material disruption through the reduction of both trading liquidity and access to capital. If the Consolidation resolution is approved by shareholders at the Meeting, the Board will have discretion to determine the final Consolidation Ratio within the shareholder-approved parameters.

It opened the trading session at $0.3266, the shares rose to $0.3314 and dropped to $0.3173, the range by which the price of stock traded the whole day. The daily chart for SNDL points out that the company has recorded -44.97% loss over the past six months. However, it is still -10.34% lower than its most recent low trading price.

If we look at the average trading volume of 71.21M shares, SNDL reached to a volume of 36827108 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Sundial Growers Inc. [SNDL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SNDL shares is $0.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SNDL stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BMO Capital Markets have made an estimate for Sundial Growers Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on May 03, 2022. While these analysts kept the previous recommendation, Canaccord Genuity raised their target price from $0.40 to $0.65. The new note on the price target was released on March 19, 2021, representing the official price target for Sundial Growers Inc. stock.

The Average True Range (ATR) for Sundial Growers Inc. is set at 0.02, with the Price to Sales ratio for SNDL stock in the period of the last 12 months amounting to 16.13. The Price to Book ratio for the last quarter was 0.55, with the Price to Cash per share for the same quarter was set at 0.15.

Trading performance analysis for SNDL stock

Sundial Growers Inc. [SNDL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.22. With this latest performance, SNDL shares gained by 8.61% in over the last four-week period, additionally sinking by -44.97% over the last 6 months – not to mention a drop of -60.90% 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 42.48, with the RSI for the last a single of trading hit 42.46, and the three-weeks RSI is set at 42.24 for Sundial Growers Inc. [SNDL]. The present Moving Average for the last 50 days of trading for this stock 0.3701, while it was recorded at 0.3174 for the last single week of trading, and 0.5414 for the last 200 days.

Sundial Growers Inc. [SNDL]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Sundial Growers Inc. [SNDL] shares currently have an operating margin of -132.89 and a Gross Margin at -31.40. Sundial Growers Inc.’s Net Margin is presently recorded at -410.46.

Return on Equity for this stock declined to -29.22, with Return on Assets sitting at -27.04.

Sundial Growers Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.70 and a Current Ratio set at 6.00.

An analysis of insider ownership at Sundial Growers Inc. [SNDL]

There are presently around $63 million, or 7.80% of SNDL stock, in the hands of institutional investors. The top three institutional holders of SNDL stocks are: ETF MANAGERS GROUP, LLC with ownership of 77,507,849, which is approximately 162.64% of the company’s market cap and around 0.51% of the total institutional ownership; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 47,064,352 shares of the stock with an approximate value of $15.01 million in SNDL stocks shares; and D. E. SHAW & CO., INC., currently with $10.78 million in SNDL stock with ownership of nearly 315.112% of the company’s market capitalization.

Positions in Sundial Growers Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 71 institutional holders increased their position in Sundial Growers Inc. [NASDAQ:SNDL] by around 112,435,727 shares. Additionally, 59 investors decreased positions by around 23,407,677 shares, while 60 investors held positions by with 61,614,867 shares. The mentioned changes placed institutional holdings at 197,458,271 shares, according to the latest SEC report filing. SNDL stock had 29 new institutional investments in for a total of 3,382,351 shares, while 31 institutional investors sold positions of 4,567,375 shares during the same period.