Haywood Securities upgraded shares of High Tide (NASDAQ:HITI - Free Report) to a strong-buy rating in a report released on Friday morning,Zacks.com reports.
Separately, Roth Capital reiterated a "buy" rating and set a $5.00 price objective (up previously from $4.50) on shares of High Tide in a research report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Strong Buy" and a consensus target price of $5.00.
Check Out Our Latest Stock Analysis on HITI
High Tide Price Performance
NASDAQ:HITI traded up $0.36 during midday trading on Friday, hitting $3.93. 878,518 shares of the stock were exchanged, compared to its average volume of 598,521. High Tide has a one year low of $1.64 and a one year high of $3.99. The company has a market capitalization of $341.79 million, a price-to-earnings ratio of -49.19 and a beta of 0.58. The business has a 50-day moving average price of $2.82 and a two-hundred day moving average price of $2.44. The company has a current ratio of 1.85, a quick ratio of 0.97 and a debt-to-equity ratio of 0.42.
High Tide (NASDAQ:HITI - Get Free Report) last announced its earnings results on Monday, September 15th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. High Tide had a negative return on equity of 6.50% and a negative net margin of 1.66%.The firm had revenue of $108.04 million for the quarter, compared to analysts' expectations of $146.00 million. Sell-side analysts predict that High Tide will post -0.04 EPS for the current year.
Hedge Funds Weigh In On High Tide
A number of hedge funds have recently modified their holdings of HITI. Osaic Holdings Inc. increased its stake in shares of High Tide by 82,976.9% in the second quarter. Osaic Holdings Inc. now owns 10,800 shares of the company's stock worth $25,000 after acquiring an additional 10,787 shares during the last quarter. Revisor Wealth Management LLC acquired a new position in shares of High Tide in the second quarter worth $32,000. StoneX Group Inc. acquired a new position in shares of High Tide in the second quarter worth $46,000. Bank of America Corp DE bought a new stake in High Tide in the fourth quarter worth $72,000. Finally, Boothbay Fund Management LLC bought a new stake in High Tide in the second quarter worth $110,000. 4.52% of the stock is owned by institutional investors and hedge funds.
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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