521,179 Shares in High Tide Inc. (NASDAQ:HITI) Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership acquired a new position in shares of High Tide Inc. (NASDAQ:HITI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 521,179 shares of the company's stock, valued at approximately $1,605,000. Arrowstreet Capital Limited Partnership owned about 0.64% of High Tide as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HITI. Benin Management CORP lifted its stake in High Tide by 100.0% during the fourth quarter. Benin Management CORP now owns 20,000 shares of the company's stock worth $62,000 after purchasing an additional 10,000 shares during the last quarter. Northwest & Ethical Investments L.P. lifted its position in High Tide by 1,026.2% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 22,378 shares of the company's stock worth $69,000 after buying an additional 20,391 shares during the last quarter. Jane Street Group LLC boosted its stake in High Tide by 58.8% in the third quarter. Jane Street Group LLC now owns 35,252 shares of the company's stock worth $72,000 after buying an additional 13,052 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in High Tide during the fourth quarter valued at approximately $146,000. Finally, Chicago Partners Investment Group LLC purchased a new position in shares of High Tide during the fourth quarter worth approximately $451,000. 4.52% of the stock is currently owned by hedge funds and other institutional investors.

High Tide Trading Up 2.5 %

Shares of High Tide stock traded up $0.06 during trading on Wednesday, reaching $2.27. The company's stock had a trading volume of 130,856 shares, compared to its average volume of 642,724. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 0.27. High Tide Inc. has a 52-week low of $1.57 and a 52-week high of $3.62. The firm's 50-day moving average is $2.27 and its two-hundred day moving average is $2.67. The company has a market cap of $183.33 million, a price-to-earnings ratio of -75.50 and a beta of 0.61.

High Tide (NASDAQ:HITI - Get Free Report) last announced its quarterly earnings data on Friday, March 21st. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The company had revenue of $100.25 million for the quarter, compared to the consensus estimate of $138.83 million. High Tide had a negative net margin of 0.81% and a negative return on equity of 2.93%. On average, sell-side analysts anticipate that High Tide Inc. will post -0.04 earnings per share for the current year.

High Tide 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.