High Tide (NASDAQ:HITI) Given "Buy" Rating at Roth Mkm

High Tide (NASDAQ:HITI - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at Roth Mkm in a research report issued on Wednesday, Benzinga reports. They presently have a $4.50 target price on the stock. Roth Mkm's price target would indicate a potential upside of 113.27% from the stock's previous close.

Separately, Ventum Cap Mkts upgraded shares of High Tide to a "strong-buy" rating in a research report on Tuesday, July 16th.

High Tide Stock Performance

High Tide stock traded down $0.03 during trading on Wednesday, hitting $2.11. The stock had a trading volume of 620,734 shares, compared to its average volume of 538,824. The stock's 50 day moving average is $1.95 and its two-hundred day moving average is $2.11. High Tide has a 1 year low of $1.14 and a 1 year high of $2.85. The stock has a market cap of $169.74 million, a price-to-earnings ratio of -6.59 and a beta of 0.47. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 0.21.

High Tide (NASDAQ:HITI - Get Free Report) last issued its quarterly earnings results on Monday, September 16th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.02) by $0.03. The firm had revenue of $96.04 million for the quarter, compared to analysts' expectations of $93.70 million. High Tide had a negative return on equity of 1.06% and a negative net margin of 7.07%. During the same quarter in the prior year, the firm earned ($0.03) EPS. As a group, analysts predict that High Tide will post -0.03 EPS for the current year.

Institutional Investors Weigh In On High Tide

Several institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd bought a new stake in shares of High Tide during the first quarter valued at about $32,000. Perritt Capital Management Inc. bought a new stake in High Tide during the 1st quarter worth approximately $132,000. Virtu Financial LLC purchased a new stake in High Tide in the 1st quarter worth approximately $153,000. JW Asset Management LLC boosted its holdings in High Tide by 36.2% in the 4th quarter. JW Asset Management LLC now owns 102,144 shares of the company's stock valued at $166,000 after purchasing an additional 27,144 shares during the period. Finally, Perritt Capital Management Inc boosted its holdings in High Tide by 92.3% in the 2nd quarter. Perritt Capital Management Inc now owns 125,000 shares of the company's stock valued at $276,000 after purchasing an additional 60,000 shares during the period. Hedge funds and other institutional investors own 4.52% of the company's stock.

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.