Hillsdale Investment Management Inc. Acquires New Position in High Tide Inc. $HITI

Key Points

• Hillsdale Investment Management purchased 2,199,565 shares of High Tide—about $8.01 million—giving it roughly 2.52% of the company and contributing to total institutional ownership of ~4.52%.
• High Tide's latest quarter showed EPS of $0.01 (in line with estimates) but a significant revenue shortfall ($117.02M vs. $158.91M expected), with negative net margin (-8.68%) and ROE (-2.37%); the stock trades near $2.49 with a 52‑week range of $1.64–$4.06.
• Analyst sentiment is mixed: the consensus is a Moderate Buy with an average price target of $6.13, though some firms have downgraded the shares (e.g., Weiss Ratings "sell (d-)" and Wall Street Zen to "hold").

Hillsdale Investment Management Inc. bought a new position in High Tide Inc. (NASDAQ:HITI - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,199,565 shares of the company's stock, valued at approximately $8,011,000. Hillsdale Investment Management Inc. owned approximately 2.52% of High Tide at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Zweig DiMenna Associates LLC bought a new stake in shares of High Tide in the 3rd quarter worth approximately $550,000. Osaic Holdings Inc. raised its position in High Tide by 82,976.9% in the 2nd quarter. Osaic Holdings Inc. now owns 10,800 shares of the company's stock worth $25,000 after purchasing an additional 10,787 shares during the period. State of Wyoming lifted its stake in High Tide by 10.5% in the second quarter. State of Wyoming now owns 267,683 shares of the company's stock worth $616,000 after purchasing an additional 25,442 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in High Tide in the second quarter worth $110,000. Finally, Murchinson Ltd. purchased a new stake in High Tide during the second quarter valued at about $398,000. 4.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HITI has been the topic of several analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of High Tide in a report on Thursday, January 22nd. Wall Street Zen cut High Tide from a "buy" rating to a "hold" rating in a research note on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $6.13.

High Tide Price Performance

HITI opened at $2.49 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.70 and a current ratio of 1.37. High Tide Inc. has a 52-week low of $1.64 and a 52-week high of $4.06. The stock has a market capitalization of $219.00 million, a PE ratio of -6.73 and a beta of 0.57. The stock's 50 day moving average price is $2.56 and its 200-day moving average price is $2.92.

High Tide (NASDAQ:HITI - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.01. High Tide had a negative return on equity of 2.37% and a negative net margin of 8.68%.The business had revenue of $117.02 million during the quarter, compared to analysts' expectations of $158.91 million. On average, equities research analysts predict that High Tide Inc. will post -0.04 EPS for the current year.

High Tide Company Profile

High Tide Inc NASDAQ: HITI is an omnichannel retailer and branded consumer packaged goods company serving the regulated cannabis market. The company operates a network of licensed cannabis retail stores across Canada, offering a curated assortment of cannabis flower, pre-rolls, vapes and lifestyle accessories. In parallel, High Tide maintains an e-commerce platform that delivers hemp-derived products, vaporizers, glassware and other ancillary goods to consumers in multiple jurisdictions.

Within Canada, High Tide’s retail division includes banners such as Canna Cabana, Meta Cannabis Supply Co and The Hunny Pot, each designed to provide differentiated in-store experiences.

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