High Tide (NASDAQ:HITI) Posts Earnings Results

High Tide (NASDAQ:HITI) released its quarterly earnings data on Monday. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01), Zacks reports. High Tide had a negative net margin of 0.81% and a negative return on equity of 2.93%.

High Tide Stock Up 3.0 %

Shares of HITI traded up $0.07 during trading hours on Monday, reaching $2.43. 700,503 shares of the stock traded hands, compared to its average volume of 681,672. The company has a current ratio of 1.40, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $2.74 and a 200 day simple moving average of $2.69. High Tide has a 52 week low of $1.57 and a 52 week high of $3.62. The company has a market cap of $196.63 million, a price-to-earnings ratio of -81.00 and a beta of 0.48.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in High Tide stock. Bank of America Corp DE purchased a new stake in shares of High Tide Inc. (NASDAQ:HITI) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 23,200 shares of the company’s stock, valued at approximately $72,000. 4.52% of the stock is currently owned by hedge funds and other institutional investors.

About High Tide

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.