High Tide (NASDAQ:HITI) Trading Up 1.4% – What’s Next?

High Tide Inc. (NASDAQ:HITIGet Free Report)’s stock price traded up 1.4% during mid-day trading on Tuesday . The company traded as high as $3.62 and last traded at $3.53. 1,291,089 shares traded hands during mid-day trading, an increase of 115% from the average session volume of 600,689 shares. The stock had previously closed at $3.48.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HITI shares. Roth Capital upgraded High Tide to a “strong-buy” rating in a research note on Friday, November 8th. Roth Mkm reaffirmed a “buy” rating and issued a $4.50 price objective on shares of High Tide in a research report on Wednesday, September 18th.

Read Our Latest Stock Report on HITI

High Tide Price Performance

The stock has a 50-day moving average price of $2.67 and a two-hundred day moving average price of $2.31. The stock has a market cap of $264.68 million, a price-to-earnings ratio of -12.43 and a beta of 0.47. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20.

High Tide (NASDAQ:HITIGet Free Report) last issued its quarterly earnings results on Monday, September 16th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $96.04 million for the quarter, compared to analyst estimates of $93.70 million. High Tide had a positive return on equity of 2.06% and a negative net margin of 6.14%. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. As a group, equities research analysts forecast that High Tide Inc. will post -0.01 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC grew its holdings in shares of High Tide by 58.8% during the third quarter. Jane Street Group LLC now owns 35,252 shares of the company’s stock valued at $72,000 after buying an additional 13,052 shares during the last quarter. Virtu Financial LLC acquired a new stake in High Tide during the 1st quarter worth about $153,000. Perritt Capital Management Inc increased its holdings in shares of High Tide by 92.3% in 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 period. Finally, Baader Bank Aktiengesellschaft increased its holdings in shares of High Tide by 25.9% in the second quarter. Baader Bank Aktiengesellschaft now owns 251,741 shares of the company’s stock valued at $555,000 after purchasing an additional 51,741 shares during the period. Institutional investors and hedge funds own 4.52% of the company’s stock.

High Tide Company Profile

(Get Free Report)

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.

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