High Tide (NASDAQ:HITI) Rating Increased to Strong-Buy at Roth Capital

Roth Capital upgraded shares of High Tide (NASDAQ:HITI) to a strong-buy rating in a research note published on Friday morning,Zacks.com reports.

Other research analysts have also issued research reports about the company. Roth Mkm reaffirmed a “buy” rating and set a $4.50 price target on shares of High Tide in a research report on Wednesday, September 18th. Ventum Cap Mkts raised High Tide to a “strong-buy” rating in a report on Tuesday, July 16th.

High Tide Stock Performance

Shares of HITI opened at $2.66 on Friday. The stock has a 50-day simple moving average of $2.40 and a 200-day simple moving average of $2.24. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.78 and a current ratio of 1.26. The stock has a market capitalization of $213.99 million, a PE ratio of -9.46 and a beta of 0.39. High Tide has a 1 year low of $1.14 and a 1 year high of $3.12.

High Tide (NASDAQ:HITI) last posted its earnings results on Monday, September 16th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.03. The firm had revenue of $96.04 million during the quarter, compared to analysts’ expectations 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 business earned ($0.03) earnings per share. On average, analysts predict that High Tide will post -0.01 earnings per share for the current fiscal year.

Institutional Trading of High Tide

A number of institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new stake in shares of High Tide in the first quarter valued at $32,000. Baader Bank Aktiengesellschaft increased its stake in 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 last quarter. Perritt Capital Management Inc increased its stake in 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 last quarter. Perritt Capital Management Inc. acquired a new position in High Tide in the first quarter valued at $132,000. Finally, Virtu Financial LLC acquired a new stake in High Tide during the first quarter worth about $153,000. 4.52% of the stock is currently owned by hedge funds and other institutional investors.

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.