State of Wyoming increased its stake in shares of High Tide Inc. (NASDAQ:HITI - Free Report) by 55.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,241 shares of the company's stock after buying an additional 86,682 shares during the quarter. State of Wyoming owned about 0.30% of High Tide worth $458,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in HITI. Jane Street Group LLC grew its stake in High Tide by 50.6% during the 4th quarter. Jane Street Group LLC now owns 53,089 shares of the company's stock worth $163,000 after buying an additional 17,837 shares during the last quarter. Bank of America Corp DE bought a new position in High Tide during the 4th quarter worth $72,000. Lazard Asset Management LLC grew its stake in High Tide by 8,334.5% during the 4th quarter. Lazard Asset Management LLC now owns 51,535 shares of the company's stock worth $159,000 after buying an additional 50,924 shares during the last quarter. Finally, Two Sigma Investments LP grew its stake in High Tide by 146.0% during the 4th quarter. Two Sigma Investments LP now owns 311,304 shares of the company's stock worth $962,000 after buying an additional 184,780 shares during the last quarter. 4.52% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Separately, Roth Capital restated a "buy" rating and set a $5.00 price objective (up from $4.50) on shares of High Tide in a research note on Wednesday, June 18th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $4.75.
Get Our Latest Analysis on HITI
High Tide Price Performance
Shares of HITI opened at $3.60 on Friday. The firm has a market capitalization of $292.32 million, a price-to-earnings ratio of -45.00 and a beta of 0.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.97 and a current ratio of 1.57. High Tide Inc. has a one year low of $1.64 and a one year high of $3.65. The stock's fifty day moving average is $2.53 and its 200-day moving average is $2.36.
High Tide (NASDAQ:HITI - Get Free Report) last issued its quarterly earnings results on Monday, June 16th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). The business had revenue of $99.86 million for the quarter, compared to analyst estimates of $138.50 million. High Tide had a negative net margin of 1.71% and a negative return on equity of 6.45%. Equities analysts anticipate that High Tide Inc. will post -0.04 EPS for the current year.
About High Tide
(
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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