Atb Cap Markets Raises Earnings Estimates for High Tide

High Tide Inc. (NASDAQ:HITI - Free Report) - Stock analysts at Atb Cap Markets upped their FY2028 earnings per share estimates for High Tide in a report issued on Tuesday, October 22nd. Atb Cap Markets analyst F. Gomes now expects that the company will earn $0.48 per share for the year, up from their previous estimate of $0.36. The consensus estimate for High Tide's current full-year earnings is ($0.01) per share.

High Tide (NASDAQ:HITI - Get Free Report) last posted its quarterly earnings results on Monday, September 16th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $96.04 million during the quarter, compared to the consensus estimate of $93.70 million. During the same quarter in the prior year, the company earned ($0.03) EPS.

Other research analysts also recently issued reports about the stock. Roth Mkm reaffirmed a "buy" rating and issued a $4.50 price objective on shares of High Tide in a report on Wednesday, September 18th. Ventum Cap Mkts raised High Tide to a "strong-buy" rating in a report on Tuesday, July 16th.

High Tide Stock Performance

NASDAQ:HITI traded up $0.17 on Thursday, reaching $2.95. 786,188 shares of the company's stock were exchanged, compared to its average volume of 556,315. The stock has a fifty day simple moving average of $2.17 and a 200-day simple moving average of $2.18. High Tide has a 52 week low of $1.14 and a 52 week 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. The firm has a market cap of $237.32 million, a price-to-earnings ratio of -9.19 and a beta of 0.48.

Institutional Investors Weigh In On High Tide

Institutional investors and hedge funds have recently modified their holdings of the company. Perritt Capital Management Inc raised its position in shares of High Tide by 92.3% in the second quarter. Perritt Capital Management Inc now owns 125,000 shares of the company's stock worth $276,000 after buying an additional 60,000 shares in the last quarter. Baader Bank Aktiengesellschaft raised 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 valued at $555,000 after acquiring an additional 51,741 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of High Tide in the 1st quarter valued at about $153,000. Perritt Capital Management Inc. bought a new stake in shares of High Tide during the 1st quarter valued at about $132,000. Finally, Quadrature Capital Ltd purchased a new position in shares of High Tide during the first quarter worth about $32,000. 4.52% of the stock is owned by hedge funds and other 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.