Brokers Offer Predictions for High Tide FY2025 Earnings

Key Points

• Analysts at Ventum Capital Markets have raised their FY2025 EPS estimate for High Tide Inc. to ($0.02) from ($0.03), whereas the consensus estimate for the current year is ($0.04) per share.
• High Tide Inc. has a current consensus rating of "Strong Buy" with an average target price of $5.00, reflecting positive sentiment from Wall Street analysts.
• The company's stock is down 4.8%, opening at $3.79, despite a recent quarterly earnings report that beat analysts’ expectations, posting $0.01 earnings per share.

High Tide Inc. (NASDAQ:HITI - Free Report) - Equities research analysts at Ventum Cap Mkts lifted their FY2025 EPS estimates for shares of High Tide in a report issued on Wednesday, September 17th. Ventum Cap Mkts analyst A. Semple now expects that the company will post earnings per share of ($0.02) for the year, up from their prior forecast of ($0.03). The consensus estimate for High Tide's current full-year earnings is ($0.04) per share.

HITI has been the subject of several other reports. Wall Street Zen raised shares of High Tide from a "hold" rating to a "buy" rating in a research note on Saturday. Haywood Securities upgraded shares of High Tide to a "strong-buy" rating in a report on Friday, September 12th. Finally, Roth Capital reiterated a "buy" rating and issued a $5.00 price objective (up previously from $4.50) on shares of High Tide in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Strong Buy" and an average price target of $5.00.

High Tide Price Performance

HITI stock traded down $0.14 during midday trading on Monday, hitting $3.65. The stock had a trading volume of 1,249,807 shares, compared to its average volume of 1,188,281. The company has a quick ratio of 1.29, a current ratio of 1.85 and a debt-to-equity ratio of 0.42. High Tide has a 12-month low of $1.64 and a 12-month high of $4.06. The company's 50-day moving average price is $2.88 and its 200 day moving average price is $2.46.

High Tide (NASDAQ:HITI - Get Free Report) last issued its quarterly earnings data on Monday, September 15th. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.02. High Tide had a negative net margin of 1.66% and a negative return on equity of 6.50%. The business had revenue of $108.04 million during the quarter, compared to analysts' expectations of $146.00 million.

Hedge Funds Weigh In On High Tide

Large investors have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its position in shares of High Tide by 82,976.9% during the 2nd quarter. Osaic Holdings Inc. now owns 10,800 shares of the company's stock valued at $25,000 after acquiring an additional 10,787 shares during the last quarter. State of Wyoming raised its position in shares of High Tide by 10.5% during 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 period. Boothbay Fund Management LLC purchased a new stake in shares of High Tide during the second quarter valued at $110,000. Murchinson Ltd. acquired a new position in shares of High Tide in the 2nd quarter valued at $398,000. Finally, StoneX Group Inc. purchased a new position in High Tide in the 2nd quarter worth about $46,000. Institutional investors own 4.52% of the company's stock.

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.