High Tide (NASDAQ:HITI - Get Free Report) issued its quarterly earnings data on Monday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01), Zacks reports. High Tide had a negative net margin of 1.71% and a negative return on equity of 6.45%. The company had revenue of $99.86 million for the quarter, compared to analysts' expectations of $138.50 million.
High Tide Stock Down 2.2%
Shares of HITI stock traded down $0.05 during trading hours on Thursday, hitting $2.20. 406,347 shares of the company's stock traded hands, compared to its average volume of 583,508. The company has a quick ratio of 0.95, a current ratio of 1.57 and a debt-to-equity ratio of 0.30. The stock's fifty day simple moving average is $2.31 and its two-hundred day simple moving average is $2.56. High Tide has a 12-month low of $1.57 and a 12-month high of $3.62. The stock has a market cap of $178.29 million, a price-to-earnings ratio of -27.50 and a beta of 0.52.
Institutional Trading of High Tide
A hedge fund recently bought a new stake in High Tide stock. Bank of America Corp DE bought a new position in High Tide Inc. (NASDAQ:HITI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 23,200 shares of the company's stock, valued at approximately $72,000. Institutional investors own 4.52% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Roth Capital reissued a "buy" rating and issued a $5.00 target price (up previously from $4.50) on shares of High Tide in a research report on Wednesday.
Check Out Our Latest Analysis on HITI
About High Tide
(
Get 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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