High Tide Inc. (NASDAQ:HITI - Get Free Report) was the target of a large increase in short interest in January. As of January 15th, there was short interest totalling 4,290,000 shares, an increase of 5.9% from the December 31st total of 4,050,000 shares. Based on an average daily trading volume, of 798,100 shares, the short-interest ratio is presently 5.4 days. Approximately 5.9% of the shares of the stock are short sold.
Analyst Upgrades and Downgrades
Separately, Roth Capital raised High Tide to a "strong-buy" rating in a research note on Friday, November 8th.
Check Out Our Latest Stock Report on High Tide
Hedge Funds Weigh In On High Tide
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Benin Management CORP increased its stake in shares of High Tide by 100.0% in the fourth 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. Jane Street Group LLC grew its holdings in High Tide by 58.8% during the 3rd quarter. Jane Street Group LLC now owns 35,252 shares of the company's stock worth $72,000 after acquiring an additional 13,052 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in High Tide in the 4th quarter valued at about $146,000. Finally, Chicago Partners Investment Group LLC bought a new position in shares of High Tide in the fourth quarter worth about $451,000. Institutional investors and hedge funds own 4.52% of the company's stock.
High Tide Price Performance
HITI stock traded up $0.12 during trading on Thursday, hitting $2.94. 506,643 shares of the stock traded hands, compared to its average volume of 741,943. The company has a current ratio of 1.40, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. The stock has a market cap of $237.85 million, a price-to-earnings ratio of -98.00 and a beta of 0.46. High Tide has a one year low of $1.57 and a one year high of $3.62. The company has a 50 day simple moving average of $3.10 and a 200 day simple moving average of $2.56.
High Tide (NASDAQ:HITI - Get Free Report) last posted its earnings results on Wednesday, January 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). High Tide had a negative net margin of 0.81% and a negative return on equity of 2.93%.
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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