Zacks Small Cap Forecasts Increased Earnings for High Tide

Key Points

• Zacks Small Cap has revised its FY2025 earnings estimates for High Tide Inc. to a loss of ($0.03) per share, an improvement from the previous estimate of ($0.07).
• High Tide recently reported quarterly earnings of $0.01 EPS, exceeding analyst expectations of ($0.01), despite a revenue shortfall of $108.04 million against a forecast of $146.00 million.
• Analysts have shown positive sentiment towards High Tide, with a consensus rating of “Strong Buy” and a target price increase to $5.00 from $4.50.

High Tide Inc. (NASDAQ:HITI - Free Report) - Equities research analysts at Zacks Small Cap raised their FY2025 earnings per share (EPS) estimates for shares of High Tide in a note issued to investors on Tuesday, September 16th. Zacks Small Cap analyst M. Kim now anticipates that the company will post earnings per share of ($0.03) for the year, up from their previous forecast of ($0.07). The consensus estimate for High Tide's current full-year earnings is ($0.04) per share.

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

Several other research firms have also weighed in on HITI. Roth Capital reissued a "buy" rating and issued a $5.00 price objective (up from $4.50) on shares of High Tide in a research report on Wednesday, June 18th. Haywood Securities raised High Tide to a "strong-buy" rating in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat, High Tide has an average rating of "Strong Buy" and a consensus target price of $5.00.

High Tide Trading Down 4.8%

Shares of HITI stock traded down $0.19 during mid-day trading on Thursday, hitting $3.79. The company's stock had a trading volume of 1,202,985 shares, compared to its average volume of 1,312,437. The company's fifty day simple moving average is $2.88 and its 200-day simple moving average is $2.46. High Tide has a 52 week low of $1.64 and a 52 week high of $4.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.97 and a current ratio of 1.85. The company has a market cap of $330.15 million, a PE ratio of -47.38 and a beta of 0.58.

Institutional Trading of High Tide

Large investors have recently made changes to their positions in the company. Jane Street Group LLC boosted its stake in High Tide by 50.6% during the 4th quarter. Jane Street Group LLC now owns 53,089 shares of the company's stock valued at $163,000 after purchasing an additional 17,837 shares during the last quarter. Bank of America Corp DE acquired a new position in High Tide during the 4th quarter valued at about $72,000. Lazard Asset Management LLC boosted its stake in High Tide by 8,334.5% during the 4th quarter. Lazard Asset Management LLC now owns 51,535 shares of the company's stock valued at $159,000 after purchasing an additional 50,924 shares during the last quarter. Two Sigma Investments LP boosted its stake in High Tide by 146.0% during the 4th quarter. Two Sigma Investments LP now owns 311,304 shares of the company's stock valued at $962,000 after purchasing an additional 184,780 shares during the last quarter. Finally, State of Wyoming boosted its stake in High Tide by 55.7% during the 1st quarter. State of Wyoming now owns 242,241 shares of the company's stock valued at $458,000 after purchasing an additional 86,682 shares during the last quarter. 4.52% of the stock is currently owned by institutional investors and hedge funds.

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.