High Tide Inc. (NASDAQ:HITI) Short Interest Update

High Tide Inc. (NASDAQ:HITI - Get Free Report) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 4,050,000 shares, an increase of 7.1% from the November 30th total of 3,780,000 shares. Currently, 5.5% of the company's shares are sold short. Based on an average trading volume of 784,900 shares, the short-interest ratio is currently 5.2 days.

Institutional Trading of High Tide

A hedge fund recently raised its stake in High Tide stock. Perritt Capital Management Inc raised its holdings in High Tide Inc. (NASDAQ:HITI - Free Report) by 92.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 125,000 shares of the company's stock after buying an additional 60,000 shares during the period. Perritt Capital Management Inc owned about 0.16% of High Tide worth $276,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 4.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Roth Mkm reiterated a "buy" rating and issued a $4.50 target price on shares of High Tide in a report on Wednesday, September 18th. Roth Capital raised shares of High Tide to a "strong-buy" rating in a research note on Friday, November 8th.

High Tide Stock Up 1.0 %

High Tide stock traded up $0.03 during mid-day trading on Wednesday, reaching $3.09. The stock had a trading volume of 387,902 shares, compared to its average volume of 819,404. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.78 and a current ratio of 1.26. High Tide has a fifty-two week low of $1.57 and a fifty-two week high of $3.62. The stock's 50-day simple moving average is $2.98 and its 200-day simple moving average is $2.40. The firm has a market capitalization of $248.59 million, a PE ratio of -11.04 and a beta of 0.47.

High Tide Company 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.