Arrowstreet Capital Limited Partnership Invests $1.61 Million in High Tide Inc. (NASDAQ:HITI)

Arrowstreet Capital Limited Partnership acquired a new position in High Tide Inc. (NASDAQ:HITI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 521,179 shares of the company's stock, valued at approximately $1,605,000. Arrowstreet Capital Limited Partnership owned about 0.64% of High Tide at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Jane Street Group LLC increased its position in High Tide by 58.8% in the third quarter. Jane Street Group LLC now owns 35,252 shares of the company's stock worth $72,000 after purchasing an additional 13,052 shares during the last quarter. Benin Management CORP raised its position in shares of High Tide by 100.0% during the 4th quarter. Benin Management CORP now owns 20,000 shares of the company's stock valued at $62,000 after buying an additional 10,000 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of High Tide in the 4th quarter valued at about $451,000. SBI Securities Co. Ltd. purchased a new position in High Tide in the fourth quarter worth about $146,000. Finally, Northwest & Ethical Investments L.P. increased its stake in High Tide by 1,026.2% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 22,378 shares of the company's stock worth $69,000 after acquiring an additional 20,391 shares during the last quarter. 4.52% of the stock is owned by hedge funds and other institutional investors.

High Tide Trading Up 0.5 %

Shares of NASDAQ:HITI traded up $0.01 during trading on Monday, hitting $2.04. The company had a trading volume of 369,746 shares, compared to its average volume of 644,010. The stock has a market cap of $165.12 million, a price-to-earnings ratio of -68.00 and a beta of 0.61. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.40 and a quick ratio of 0.92. The company has a fifty day simple moving average of $2.30 and a two-hundred day simple moving average of $2.67. High Tide Inc. has a one year low of $1.57 and a one year high of $3.62.

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High Tide (NASDAQ:HITI - Get Free Report) last issued its quarterly earnings results on Friday, March 21st. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). High Tide had a negative return on equity of 2.93% and a negative net margin of 0.81%. The company had revenue of $100.25 million during the quarter, compared to the consensus estimate of $138.83 million. As a group, equities analysts forecast that High Tide Inc. will post -0.04 earnings per share for the current year.

High Tide Profile

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.