Atb Cap Markets Predicts Higher Earnings for High Tide

High Tide Inc. (NASDAQ:HITI - Free Report) - Research analysts at Atb Cap Markets increased their FY2024 earnings estimates for shares of High Tide in a note issued to investors on Tuesday, October 22nd. Atb Cap Markets analyst F. Gomes now expects that the company will earn ($0.03) per share for the year, up from their prior estimate of ($0.04). The consensus estimate for High Tide's current full-year earnings is ($0.01) per share. Atb Cap Markets also issued estimates for High Tide's FY2025 earnings at $0.00 EPS, FY2026 earnings at $0.15 EPS and FY2027 earnings at $0.30 EPS.

High Tide (NASDAQ:HITI - Get Free Report) last released its earnings results on Monday, September 16th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. The company had revenue of $96.04 million during the quarter, compared to analyst estimates of $93.70 million. High Tide had a positive return on equity of 2.06% and a negative net margin of 6.14%. During the same period in the prior year, the company posted ($0.03) earnings per share.

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

High Tide Stock Performance

NASDAQ:HITI traded up $0.07 during trading on Friday, reaching $3.02. The company's stock had a trading volume of 1,044,633 shares, compared to its average volume of 558,673. High Tide has a 12 month low of $1.14 and a 12 month high of $3.12. The firm has a market cap of $242.95 million, a price-to-earnings ratio of -9.44 and a beta of 0.48. The firm has a 50 day moving average of $2.21 and a 200-day moving average of $2.19. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.78 and a current ratio of 1.26.

Institutional Trading of High Tide

Several hedge funds have recently made changes to their positions in the company. Quadrature Capital Ltd purchased a new stake in High Tide in the 1st quarter worth about $32,000. Baader Bank Aktiengesellschaft raised its position in shares of High Tide by 25.9% in the second quarter. Baader Bank Aktiengesellschaft now owns 251,741 shares of the company's stock valued at $555,000 after purchasing an additional 51,741 shares during the period. Perritt Capital Management Inc lifted its stake in shares of High Tide by 92.3% during the 2nd quarter. Perritt Capital Management Inc now owns 125,000 shares of the company's stock valued at $276,000 after buying an additional 60,000 shares in the last quarter. Perritt Capital Management Inc. purchased a new stake in shares of High Tide during the 1st quarter valued at approximately $132,000. Finally, Virtu Financial LLC bought a new position in High Tide in the 1st quarter worth approximately $153,000. 4.52% of the stock is currently 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.