High Tide Inc. (NASDAQ:HITI) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts give High Tide a consensus rating of "Moderate Buy" from five brokerages (one sell, three buy, one strong buy) with an average 1‑year target of $6.125; Canaccord raised its target to $7.25 and TD Securities initiated coverage with a buy while Weiss and Wall Street Zen issued sell/hold views.
• High Tide reported $0.01 EPS and revenue of $130.88M versus $173.8M expected (a clear revenue miss) with a negative net margin of 7.53%, and the stock trades around $2.34 (market cap ~$205.7M, one‑year range $2.04–$4.06).

High Tide Inc. (NASDAQ:HITI - Get Free Report) has earned an average rating of "Moderate Buy" from the five brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $6.1250.

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group lifted their target price on High Tide from $7.00 to $7.25 and gave the stock a "buy" rating in a research note on Thursday, March 19th. Weiss Ratings reissued a "sell (d-)" rating on shares of High Tide in a report on Thursday, January 22nd. Wall Street Zen lowered High Tide from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. Finally, TD Securities started coverage on High Tide in a report on Tuesday, February 24th. They issued a "buy" rating for the company.

Institutional Investors Weigh In On High Tide

Several large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC purchased a new stake in High Tide in the 4th quarter worth about $129,000. XTX Topco Ltd increased its holdings in High Tide by 35.8% in the 4th quarter. XTX Topco Ltd now owns 42,606 shares of the company's stock worth $113,000 after acquiring an additional 11,222 shares during the last quarter. Oxford Asset Management LLP purchased a new stake in High Tide in the 4th quarter worth about $123,000. Millennium Management LLC increased its holdings in High Tide by 154.7% in the 4th quarter. Millennium Management LLC now owns 1,112,004 shares of the company's stock worth $2,947,000 after acquiring an additional 675,396 shares during the last quarter. Finally, Man Group plc purchased a new stake in High Tide in the 4th quarter worth about $76,000. Hedge funds and other institutional investors own 4.52% of the company's stock.

High Tide Trading Up 0.4%

NASDAQ HITI opened at $2.34 on Wednesday. The stock has a market capitalization of $205.69 million, a price-to-earnings ratio of -6.88 and a beta of 0.57. High Tide has a one year low of $2.04 and a one year high of $4.06. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.43 and a quick ratio of 0.72. The business's fifty day moving average is $2.38 and its 200-day moving average is $2.70.

High Tide (NASDAQ:HITI - Get Free Report) last released its earnings results on Tuesday, March 17th. The company reported $0.01 EPS for the quarter. The company had revenue of $130.88 million for the quarter, compared to analysts' expectations of $173.80 million. High Tide had a positive return on equity of 0.58% and a negative net margin of 7.53%. Equities research analysts predict that High Tide will post -0.04 EPS for the current year.

About High Tide

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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