SNDL Inc [NASDAQ: SNDL] loss -3.08% on the last trading session, reaching $2.20 price per share at the time. The company report on April 1, 2024 at 7:29 PM that SNDL and Nova Cannabis Announce Assignment of Dutch Love Stores to Nova Cannabis and Extension of Credit Facility.
This news release constitutes a “designated news release” for the purposes of the prospectus supplement of Nova Cannabis Inc. dated July 22, 2022, to its short form base shelf prospectus dated June 27, 2022.
SNDL Inc. (Nasdaq: SNDL) (“SNDL”) and Nova Cannabis Inc. (TSX: NOVC) (“Nova”) announced today that SNDL has agreed to assign its rights to own or operate four Dutch Love stores (the “Dutch Love Stores”) to Nova (the “Assignment”).
If compared to the average trading volume of 5.02M shares, SNDL reached a trading volume of 9853387 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 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 0.18, with the Price to Sales ratio for SNDL stock in the period of the last 12 months amounting to 0.84. The Price to Book ratio for the last quarter was 0.63, with the Price to Cash per share for the same quarter was set at 0.63.
Trading performance analysis for SNDL stock
SNDL Inc [SNDL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.73. With this latest performance, SNDL shares gained by 65.41% in over the last four-week period, additionally plugging by 28.65% over the last 6 months – not to mention a rise of 42.86% 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 64.73, with the RSI for the last a single of trading hit 63.63, and the three-weeks RSI is set at 64.36 for SNDL Inc [SNDL]. The present Moving Average for the last 50 days of trading for this stock 1.52, while it was recorded at 2.20 for the last single week of trading, and 1.56 for the last 200 days.
SNDL Inc [SNDL]: A deeper dive into fundamental analysis
SNDL Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.69 and a Current Ratio set at 3.94.
An analysis of Institutional ownership at SNDL Inc [SNDL]
The top three institutional holders of SNDL stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in SNDL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in SNDL stock with ownership which is approximately 5.8386%.
