Sundial Growers Inc. [SNDL] is -46.01% lower this YTD. Is it still time to buy?


Sundial Growers Inc. [NASDAQ: SNDL] closed the trading session at $0.31 on 07/22/22. The day’s price range saw the stock hit a low of $0.302, while the highest price level was $0.3374. The company report on July 21, 2022 that Sundial Announces Adjournment of its Annual and Special Meeting of Shareholders to July 25, 2022.

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Sundial Growers Inc. (Nasdaq: SNDL) (“Sundial” or the “Company”) announced today that its 2022 annual and special meeting of shareholders (the “Meeting”) convened at 1 p.m. (MDT) has been adjourned to Monday July 25, 2022 at 8 a.m. (MDT), without any business being considered, due to a lack of quorum.

At the time the Meeting was adjourned, proxies had been submitted by shareholders representing 12.95% of the Company’s common shares outstanding and entitled to vote, which did not constitute the requisite 25% quorum pursuant to Sundial’s bylaws and the interim order granted by the Court of Queen’s Bench of Alberta in respect of the Meeting (the “Interim Order”). Based on the votes cast by proxy to date, all resolutions currently have the requisite levels of support from shareholders. The board of directors of Sundial believes that the approval of all matters set out in the Company’s management information circular dated June 21, 2022 (the “Information Circular”) is in the best interests of the Company and its shareholders.

The stocks have a year to date performance of -46.01 percent and weekly performance of -2.22 percent. The stock has been moved at -39.78 percent over the last six months. The stock has performed -11.18 percent around the most recent 30 days and changed -38.26 percent over the most recent 3-months.

If compared to the average trading volume of 71.12M shares, SNDL reached to a volume of 61900804 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]:

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 0.03, with the Price to Sales ratio for SNDL stock in the period of the last 12 months amounting to 15.77. The Price to Book ratio for the last quarter was 0.54, with the Price to Cash per share for the same quarter was set at 0.15.

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 -2.22. With this latest performance, SNDL shares dropped by -11.18% in over the last four-week period, additionally sinking by -39.78% over the last 6 months – not to mention a drop of -62.16% 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 42.26, with the RSI for the last a single of trading hit 41.16, and the three-weeks RSI is set at 42.39 for Sundial Growers Inc. [SNDL]. The present Moving Average for the last 50 days of trading for this stock 0.3586, while it was recorded at 0.3303 for the last single week of trading, and 0.5331 for the last 200 days.

Sundial Growers Inc. [SNDL]: An insightful look at the core fundamentals

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.

Sundial Growers Inc. [SNDL]: Insider Ownership positions

There are presently around $62 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 $14.68 million in SNDL stocks shares; and D. E. SHAW & CO., INC., currently with $10.54 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 73 institutional holders increased their position in Sundial Growers Inc. [NASDAQ:SNDL] by around 112,580,489 shares. Additionally, 56 investors decreased positions by around 23,333,997 shares, while 60 investors held positions by with 61,779,572 shares. The mentioned changes placed institutional holdings at 197,694,058 shares, according to the latest SEC report filing. SNDL stock had 29 new institutional investments in for a total of 3,408,012 shares, while 29 institutional investors sold positions of 4,494,022 shares during the same period.