High Tide (NASDAQ:HITI) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

High Tide (NASDAQ:HITI - Get Free Report) announced its quarterly earnings results on Friday. The company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01), Zacks reports. The business had revenue of $100.25 million for the quarter, compared to the consensus estimate of $138.83 million. High Tide had a negative net margin of 0.81% and a negative return on equity of 2.93%.

High Tide Stock Up 2.1 %

HITI stock traded up $0.05 during midday trading on Friday, reaching $2.19. 287,566 shares of the company's stock traded hands, compared to its average volume of 686,002. The company has a market cap of $176.80 million, a price-to-earnings ratio of -73.17 and a beta of 0.48. The firm's fifty day moving average price is $2.66 and its 200-day moving average price is $2.69. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 0.27. High Tide has a 52 week low of $1.57 and a 52 week high of $3.62.

Institutional Trading of High Tide

An institutional investor recently bought a new position in High Tide stock. Bank of America Corp DE purchased a new stake in shares of High Tide Inc. (NASDAQ:HITI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 23,200 shares of the company's stock, valued at approximately $72,000. 4.52% of the stock is owned by institutional investors.

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.