SNDL Inc [NASDAQ: SNDL] stock went on an upward path that rose over 21.53% on Friday, amounting to a one-week price increase of more than 25.00%. The company report on March 21, 2024 at 5:58 AM that SNDL Reports Full Year and Fourth Quarter 2023 Financial and Operational Results.
The Company reports record net revenue and gross profit in 2023 and achieves positive cash flow in the second half of 2023.
SNDL Inc. (NASDAQ: SNDL) (“SNDL” or the “Company”) reported its financial and operational results for the full year and fourth quarter ended December 31, 2023. All financial information in this press release is reported in millions of Canadian dollars unless otherwise indicated.
Over the last 12 months, SNDL stock rose by 16.67%. The one-year SNDL Inc stock forecast points to a potential upside of 50.98. The average equity rating for SNDL stock is currently 1.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $455.86 million, with 262.78 million shares outstanding and 258.39 million shares in the current float. Compared to the average trading volume of 3.35M shares, SNDL stock reached a trading volume of 18277063 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on SNDL Inc [SNDL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SNDL shares is $3.57 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 1.00. 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.
Canaccord Genuity have made an estimate for SNDL Inc shares, keeping their opinion on the stock as Speculative Buy, with their previous recommendation back on August 16, 2022. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price from $0.60 to $0.70. The new note on the price target was released on May 03, 2022, representing the official price target for SNDL Inc stock. Previously, the target price had yet another raise from $0.40 to $0.65, while Canaccord Genuity kept a Sell rating on SNDL stock.
The Average True Range (ATR) for SNDL Inc is set at 0.09, with the Price to Sales ratio for SNDL stock in the period of the last 12 months amounting to 0.66. 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 0.64.
SNDL Stock Performance Analysis:
SNDL Inc [SNDL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 25.00. With this latest performance, SNDL shares gained by 27.74% in over the last four-week period, additionally sinking by -7.89% over the last 6 months – not to mention a rise of 16.67% 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 71.49, with the RSI for the last a single of trading hit 76.80, and the three-weeks RSI is set at 66.74 for SNDL Inc [SNDL]. The present Moving Average for the last 50 days of trading for this stock 1.3999, while it was recorded at 1.5400 for the last single week of trading, and 1.5268 for the last 200 days.
Insight into SNDL Inc Fundamentals:
SNDL Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.69 and a Current Ratio set at 3.94.
SNDL Inc [SNDL] Institutonal Ownership Details
The top three institutional holders of SNDL stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SNDL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SNDL stock with ownership which is approximately 5.8325%.
