Sundial Growers Inc. [SNDL] stock Upgrade by BMO Capital Markets analyst, price target now $0.70



Sundial Growers Inc. [NASDAQ: SNDL] plunged by -$0.01 during the normal trading session on Monday and reaching a high of $0.3257 during the day while it closed the day at $0.30. The company report on July 25, 2022 that Sundial Announces Results of its Annual and Special Meeting of Shareholders and Details of the Share Consolidation.

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Sundial Growers Inc. (Nasdaq: SNDL) (“Sundial” or the “Company”) is pleased to announce all of the resolutions put to holders of common shares (the “Common Shares”) of the Company (the “Shareholders”) at the reconvened annual and special meeting held virtually today (the “Meeting”) were passed. The Meeting was originally held on July 21, 2022, and was adjourned, without any business being considered, due to a lack of quorum. Under the by-laws of the Company and the interim order granted by the Court of Queen’s Bench of Alberta in respect of the Meeting, those shareholders who attended the Meeting today, in person or by proxy, constituted a quorum.

At the Meeting, Shareholders approved: (i) fixing the number of directors of the Company at five members; (ii) electing each of Greg Mills, Zach George, Lori Ell, Bryan Pinney and Gregory Turnbull as directors of the Company for the ensuing year; and (iii) appointing Marcum LLP as the auditors of the Company for the ensuing year and authorizing the board of directors of the Company to set their remuneration.

Sundial Growers Inc. stock has also loss -8.44% of its value over the past 7 days. However, SNDL stock has declined by -42.86% in the 3 months of the year. Over the past six months meanwhile, it has lost -37.82% and lost -48.57% year-on date.

The market cap for SNDL stock reached $766.85 million, with 2.06 billion shares outstanding. Compared to the average trading volume of 70.98M shares, SNDL reached a trading volume of 69374208 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 $0.49 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 15.46. The Price to Book ratio for the last quarter was 0.50, 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 -8.44. With this latest performance, SNDL shares dropped by -19.62% in over the last four-week period, additionally sinking by -37.82% over the last 6 months – not to mention a drop of -62.69% 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 39.22, with the RSI for the last a single of trading hit 36.57, and the three-weeks RSI is set at 40.33 for Sundial Growers Inc. [SNDL]. The present Moving Average for the last 50 days of trading for this stock 0.3571, while it was recorded at 0.3248 for the last single week of trading, and 0.5315 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 $59 million, or 7.90% 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 $13.98 million in SNDL stocks shares; and D. E. SHAW & CO., INC., currently with $10.04 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 74 institutional holders increased their position in Sundial Growers Inc. [NASDAQ:SNDL] by around 112,577,289 shares. Additionally, 56 investors decreased positions by around 23,333,997 shares, while 60 investors held positions by with 61,784,022 shares. The mentioned changes placed institutional holdings at 197,695,308 shares, according to the latest SEC report filing. SNDL stock had 30 new institutional investments in for a total of 3,408,262 shares, while 29 institutional investors sold positions of 4,494,022 shares during the same period.