Sundial Growers (NASDAQ:SNDL) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Sundial Growers (NASDAQ:SNDL – Get Rating) from a hold rating to a sell rating in a report published on Friday, Zacks.com reports.

According to Zacks, “Sundial Growers Inc. operates as a pharmaceutical company. It produces and grows cannabis strains. Sundial Growers Inc. is based in Calgary, Canada. “

Shares of NASDAQ SNDL opened at $0.47 on Friday. Sundial Growers has a 12-month low of $0.40 and a 12-month high of $1.49. The company has a current ratio of 13.44, a quick ratio of 12.83 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average price of $0.56 and a 200 day moving average price of $0.60.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hilton Capital Management LLC increased its holdings in Sundial Growers by 22.5% in the 3rd quarter. Hilton Capital Management LLC now owns 79,653 shares of the company’s stock valued at $54,000 after purchasing an additional 14,653 shares in the last quarter. Bridgewater Advisors Inc. grew its stake in shares of Sundial Growers by 4.3% during the fourth quarter. Bridgewater Advisors Inc. now owns 490,000 shares of the company’s stock valued at $283,000 after acquiring an additional 20,000 shares in the last quarter. State Street Corp grew its stake in shares of Sundial Growers by 1.0% during the fourth quarter. State Street Corp now owns 2,188,119 shares of the company’s stock valued at $1,265,000 after acquiring an additional 21,860 shares in the last quarter. CIBC World Markets Inc. grew its stake in shares of Sundial Growers by 42.1% during the fourth quarter. CIBC World Markets Inc. now owns 74,568 shares of the company’s stock valued at $43,000 after acquiring an additional 22,104 shares in the last quarter. Finally, Ausdal Financial Partners Inc. grew its stake in shares of Sundial Growers by 61.1% during the fourth quarter. Ausdal Financial Partners Inc. now owns 65,200 shares of the company’s stock valued at $38,000 after acquiring an additional 24,720 shares in the last quarter. Hedge funds and other institutional investors own 5.19% of the company’s stock.

Sundial Growers Company Profile (Get Rating)

Sundial Growers Inc engages in production and marketing of cannabis products for the adult-use market in Canada. It produces and distributes inhalable products, such as flower, pre-rolls, and vapes. The company offers its products under the Top Leaf, Sundial Cannabis, Palmetto, and Grasslands brands.

Further Reading