High Tide Inc. (NASDAQ:HITI - Get Free Report) shares traded up 2.1% during trading on Monday . The stock traded as high as $2.41 and last traded at $2.40. 261,748 shares changed hands during trading, a decline of 54% from the average session volume of 573,709 shares. The stock had previously closed at $2.35.
Wall Street Analyst Weigh In
Separately, Roth Capital reaffirmed a "buy" rating and issued a $5.00 price target (up previously from $4.50) on shares of High Tide in a report on Wednesday, June 18th.
Get Our Latest Stock Report on HITI
High Tide Trading Down 1.8%
The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.97 and a current ratio of 1.57. The stock's fifty day moving average is $2.30 and its 200 day moving average is $2.44. The stock has a market cap of $199.35 million, a P/E ratio of -30.69 and a beta of 0.53.
High Tide (NASDAQ:HITI - Get Free Report) last announced 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). High Tide had a negative net margin of 1.71% and a negative return on equity of 6.45%. The business had revenue of $99.86 million during the quarter, compared to the consensus estimate of $138.50 million. As a group, equities research analysts predict that High Tide Inc. will post -0.04 earnings per share for the current fiscal year.
Institutional Trading of High Tide
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in High Tide by 142.4% in the 4th quarter. Renaissance Technologies LLC now owns 839,600 shares of the company's stock worth $2,594,000 after purchasing an additional 493,300 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in High Tide in the 4th quarter worth about $1,605,000. Two Sigma Investments LP raised its position in High Tide by 146.0% in the 4th quarter. Two Sigma Investments LP now owns 311,304 shares of the company's stock worth $962,000 after purchasing an additional 184,780 shares during the period. State of Wyoming raised its position in High Tide by 55.7% in the 1st quarter. State of Wyoming now owns 242,241 shares of the company's stock worth $458,000 after purchasing an additional 86,682 shares during the period. Finally, Hillsdale Investment Management Inc. raised its position in High Tide by 755.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 240,288 shares of the company's stock worth $738,000 after purchasing an additional 212,197 shares during the period. 4.52% of the stock is owned by hedge funds and other institutional investors.
High Tide Company Profile
(
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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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