SNDL (NASDAQ:SNDL) Sees Unusually-High Trading Volume – What’s Next?

SNDL Inc. (NASDAQ:SNDL) saw an uptick in trading volume on Wednesday . 2,027,681 shares traded hands during mid-day trading, an increase of 2% from the previous session’s volume of 1,992,968 shares.The stock last traded at $1.92 and had previously closed at $1.75.

SNDL Trading Up 7.7 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.16 and a current ratio of 5.61. The stock has a market cap of $495.34 million, a P/E ratio of -6.08 and a beta of 3.11. The stock has a 50-day moving average price of $1.82 and a 200-day moving average price of $1.98.

Hedge Funds Weigh In On SNDL

A number of hedge funds and other institutional investors have recently bought and sold shares of SNDL. Millennium Management LLC increased its stake in shares of SNDL by 138.7% in the second quarter. Millennium Management LLC now owns 2,080,069 shares of the company’s stock worth $3,952,000 after buying an additional 1,208,556 shares during the period. SG Americas Securities LLC bought a new stake in shares of SNDL during the third quarter valued at approximately $33,000. Vontobel Holding Ltd. boosted its stake in SNDL by 38.7% during the third quarter. Vontobel Holding Ltd. now owns 159,914 shares of the company’s stock worth $329,000 after acquiring an additional 44,579 shares in the last quarter. RMR Capital Management LLC purchased a new stake in SNDL in the third quarter worth about $103,000. Finally, State Street Corp increased its stake in shares of SNDL by 1.5% during the third quarter. State Street Corp now owns 353,107 shares of the company’s stock valued at $727,000 after purchasing an additional 5,246 shares in the last quarter.

SNDL Company Profile

SNDL Inc engages in the production, distribution, and sale of cannabis products in Canada. The company operates through Liquor Retail, Cannabis Retail, Cannabis Operations, and Investments segments. It engages in the cultivation, distribution, and sale of cannabis for the adult-use and medical markets; sells wines, beers, and spirits through wholly owned liquor stores; and private sale of recreational cannabis through wholly owned and franchised retail cannabis stores.