High Tide Inc. (NASDAQ:HITI - Get Free Report)'s share price shot up 1.4% during trading on Tuesday . The company traded as high as $3.62 and last traded at $3.53. 1,291,089 shares traded hands during mid-day trading, an increase of 115% from the average session volume of 600,689 shares. The stock had previously closed at $3.48.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Roth Capital upgraded High Tide to a "strong-buy" rating in a research note on Friday, November 8th. Roth Mkm reiterated a "buy" rating and set a $4.50 price target on shares of High Tide in a research report on Wednesday, September 18th.
Get Our Latest Stock Report on HITI
High Tide Trading Down 3.4 %
The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.78. The stock has a market cap of $274.33 million, a P/E ratio of -12.43 and a beta of 0.47. The firm's fifty day moving average price is $2.64 and its two-hundred day moving average price is $2.30.
High Tide (NASDAQ:HITI - Get Free Report) last announced its earnings results on Monday, September 16th. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.03. High Tide had a positive return on equity of 2.06% and a negative net margin of 6.14%. The business had revenue of $96.04 million for the quarter, compared to analyst estimates of $93.70 million. During the same period in the prior year, the company earned ($0.03) EPS. As a group, equities research analysts forecast that High Tide Inc. will post -0.01 EPS for the current year.
Hedge Funds Weigh In On High Tide
A number of institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC boosted its holdings in shares of High Tide by 58.8% in the 3rd 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 in the last quarter. Virtu Financial LLC bought a new position in High Tide during the first quarter valued at approximately $153,000. Perritt Capital Management Inc grew its position in High Tide by 92.3% during the second quarter. Perritt Capital Management Inc now owns 125,000 shares of the company's stock valued at $276,000 after acquiring an additional 60,000 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft lifted its holdings in shares of High Tide by 25.9% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 251,741 shares of the company's stock worth $555,000 after acquiring an additional 51,741 shares during the last quarter. Institutional investors own 4.52% of the company's stock.
About High Tide
(
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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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