Roth Capital Weighs in on High Tide Inc.’s FY2024 Earnings (NASDAQ:HITI)

High Tide Inc. (NASDAQ:HITI) – Analysts at Roth Capital issued their FY2024 earnings per share (EPS) estimates for shares of High Tide in a research report issued on Tuesday, September 17th. Roth Capital analyst S. Fortune forecasts that the company will earn $0.01 per share for the year. The consensus estimate for High Tide’s current full-year earnings is ($0.03) per share. Roth Capital also issued estimates for High Tide’s FY2025 earnings at $0.07 EPS.

High Tide (NASDAQ:HITI) last issued its quarterly earnings results on Monday, September 16th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. High Tide had a negative return on equity of 1.06% and a negative net margin of 7.07%. The company had revenue of $96.04 million during the quarter, compared to the consensus estimate of $93.70 million. During the same period in the previous year, the firm posted ($0.03) EPS.

A number of other analysts have also recently weighed in on HITI. Ventum Cap Mkts raised shares of High Tide to a “strong-buy” rating in a research report on Tuesday, July 16th. Roth Mkm reiterated a “buy” rating and issued a $4.50 target price on shares of High Tide in a research note on Wednesday.

High Tide Stock Performance

Shares of NASDAQ:HITI opened at $2.11 on Thursday. The business has a 50-day moving average of $1.96 and a two-hundred day moving average of $2.11. The firm has a market capitalization of $169.74 million, a PE ratio of -6.59 and a beta of 0.47. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.17 and a quick ratio of 0.72. High Tide has a 12 month low of $1.14 and a 12 month high of $2.85.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd acquired a new position in shares of High Tide during the 1st quarter valued at $32,000. Perritt Capital Management Inc. bought a new position in shares of High Tide during the 1st quarter valued at about $132,000. Virtu Financial LLC acquired a new position in shares of High Tide in the 1st quarter worth approximately $153,000. JW Asset Management LLC grew its stake in shares of High Tide by 36.2% in the 4th quarter. JW Asset Management LLC now owns 102,144 shares of the company’s stock worth $166,000 after purchasing an additional 27,144 shares during the last quarter. Finally, Perritt Capital Management Inc lifted its stake in High Tide by 92.3% during the second quarter. Perritt Capital Management Inc now owns 125,000 shares of the company’s stock valued at $276,000 after purchasing an additional 60,000 shares during the last quarter. Institutional investors and hedge funds own 4.52% of the company’s stock.

High Tide Company Profile

High Tide Inc engages in the cannabis retail business in Canada, the United States, and internationally. The company operates through Retail and Wholesale segments. It operates licensed retail cannabis stores; and provides data analytics services. In addition, the company manufactures and distributes consumption accessories.