Sundial Growers Inc. (NASDAQ:SNDL – Get Rating) was the target of a large decrease in short interest in April. As of April 15th, there was short interest totalling 192,100,000 shares, a decrease of 23.0% from the March 31st total of 249,330,000 shares. Currently, 13.9% of the company’s stock are short sold. Based on an average daily volume of 98,980,000 shares, the days-to-cover ratio is presently 1.9 days.
NASDAQ SNDL opened at $0.47 on Monday. The stock has a 50 day moving average of $0.56 and a 200-day moving average of $0.59. Sundial Growers has a 12 month low of $0.40 and a 12 month high of $1.49. The company has a market cap of $779.31 million, a PE ratio of -2.61 and a beta of 5.31. The company has a current ratio of 13.44, a quick ratio of 12.83 and a debt-to-equity ratio of 0.01.
Institutional investors have recently made changes to their positions in the business. Transcend Wealth Collective LLC bought a new position in Sundial Growers during the 3rd quarter worth $27,000. Goldman Sachs Group Inc. bought a new position in Sundial Growers during the 2nd quarter worth $42,000. Mutual Advisors LLC increased its position in Sundial Growers by 63.1% during the 4th quarter. Mutual Advisors LLC now owns 64,600 shares of the company’s stock worth $37,000 after buying an additional 25,000 shares during the period. Ausdal Financial Partners Inc. increased its position in Sundial Growers by 61.1% during the 4th quarter. Ausdal Financial Partners Inc. now owns 65,200 shares of the company’s stock worth $38,000 after buying an additional 24,720 shares during the period. Finally, Parametrica Management Ltd bought a new position in Sundial Growers during the 4th quarter worth $40,000. 5.19% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research downgraded Sundial Growers from a “hold” rating to a “sell” rating in a research report on Friday.
About Sundial Growers
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.