Sundial Growers Inc. (NASDAQ:SNDL) Stock Bears Get a Bullish Change of Heart

The stock is lingering around the initial support level of $2.97. After this, the following support is at the zone of $2.57. Up until the time the SNDL stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 64.53 on the daily chart, and this may be a cause for concern. In case the price goes below $2.57 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $3.63 level may cause a pull-back move approaching $3.89 mark.

Sundial Growers Inc. (SNDL) is most likely going to rise 115.52 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $10 as 12-month high price target. This represents a whopping 187.36 percent increase from the current trading price of shares. The 52-week median price target given by the analysts is $4.5, which means a return possibility of 29.31 percent in comparison with the closing price of the stock of $3.48 in recent trading session. The lowest price set for the stock is $4 which is just above 14.94 percent from SNDL share’s price at the end of session.

In the recent trading session, Sundial Growers Inc. (NASDAQ:SNDL) shares gained 3.26% or 0.11 points to reach at $3.48 with a heavy trading volume of 973.694 thousand shares. It opened the trading session at $2.92, the shares rose to $3.49 and dropped to $2.83, the range by which the price of stock traded the whole session. The company now has a market cap of $391 million and currently has 115.96 million outstanding shares. Sundial Growers Inc. (SNDL) stock has accumulated 33.73 percent of market value in 21 trading days.

Stock analysts at BMO Capital Markets cut their rating on shares of Sundial Growers Inc. (NASDAQ:SNDL) from Outperform to a new rating of Market Perform in their opinion released on October 31. Analysts at BMO Capital Markets issued an upgrade for the stock to Outperform from previous rating of Market Perform, in a research note that dated back to September 10.

SNDL stock’s trailing 3-year beta is 0, meaning there will be a lower rate of return, although posing a lower risk. The part of a firm’s profit given to each outstanding share of regular stock was -$1.31 share in the trailing 52 weeks. The stock’s value surged 11.96 percent year to date (YTD) compared to a decline of 0 percent in 52 week’s period. The firm’s shares are still trading -73.68 percent below its 1-year high of $13.22 and 85.11 percent up from 52-week low of $1.88. The average consensus ranking on the company is 2.5, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a sell.

The industry SNDL deals with has an average P/E of 26.67. Its P/B ratio is standing at X compared to the 4.8 industry average. Sundial Growers Inc. has a 34% gross profit margin.

Past records have indicated that shares in Sundial Growers Inc. rose on 1 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings.