High Tide (NASDAQ:HITI) Raised to "Strong-Buy" at Roth Capital

High Tide (NASDAQ:HITI - Get Free Report) was upgraded by research analysts at Roth Capital to a "strong-buy" rating in a note issued to investors on Friday,Zacks.com reports.

A number of other equities analysts also recently commented on HITI. Ventum Cap Mkts upgraded shares of High Tide to a "strong-buy" rating in a research note on Tuesday, July 16th. Roth Mkm reiterated a "buy" rating and issued a $4.50 target price on shares of High Tide in a research note on Wednesday, September 18th.

High Tide Trading Down 0.8 %

Shares of High Tide stock traded down $0.02 on Friday, hitting $2.63. 636,042 shares of the company's stock traded hands, compared to its average volume of 575,694. The firm's 50-day moving average price is $2.40 and its two-hundred day moving average price is $2.24. The stock has a market capitalization of $211.57 million, a PE ratio of -9.46 and a beta of 0.39. High Tide has a one year low of $1.14 and a one year high of $3.12. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.78.

High Tide (NASDAQ:HITI - Get Free Report) last released its quarterly earnings data on Monday, September 16th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.02) by $0.03. High Tide had a negative net margin of 6.14% and a positive return on equity of 2.06%. The business had revenue of $96.04 million during the quarter, compared to analysts' expectations of $93.70 million. During the same quarter in the prior year, the company earned ($0.03) EPS. On average, research analysts expect that High Tide will post -0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HITI. Quadrature Capital Ltd bought a new position in High Tide in the first quarter valued at approximately $32,000. Perritt Capital Management Inc. bought a new stake in shares of High Tide during the first quarter worth about $132,000. Virtu Financial LLC bought a new stake in shares of High Tide during the first quarter worth about $153,000. Perritt Capital Management Inc increased its position in shares of High Tide by 92.3% during the second quarter. Perritt Capital Management Inc now owns 125,000 shares of the company's stock worth $276,000 after acquiring an additional 60,000 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft grew its position in 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 purchasing an additional 51,741 shares in the last quarter. 4.52% of the stock is owned by institutional investors.

About High Tide

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.