High Tide (NASDAQ:HITI) Receives Buy Rating from Roth Mkm

Roth Mkm reiterated their buy rating on shares of High Tide (NASDAQ:HITI) in a research report released on Wednesday morning, Benzinga reports. They currently have a $4.50 price objective on the stock.

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

High Tide Trading Down 1.4 %

Shares of HITI stock opened at $2.11 on Wednesday. High Tide has a fifty-two week low of $1.14 and a fifty-two week high of $2.85. The stock’s fifty day moving average price is $1.96 and its two-hundred day moving average price is $2.11. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 1.17. The company has a market cap of $169.74 million, a PE ratio of -6.59 and a beta of 0.47.

High Tide (NASDAQ:HITI) last released its quarterly earnings data on Monday, September 16th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. The business had revenue of $96.04 million for the quarter, compared to analyst estimates 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 period last year, the firm posted ($0.03) earnings per share. Equities analysts predict that High Tide will post -0.03 EPS for the current fiscal year.

Institutional Trading of High Tide

A number of hedge funds have recently made changes to their positions in the company. JW Asset Management LLC raised its stake in shares of High Tide by 36.2% during the fourth quarter. JW Asset Management LLC now owns 102,144 shares of the company’s stock valued at $166,000 after acquiring an additional 27,144 shares during the last quarter. Quadrature Capital Ltd bought a new position in High Tide during the 1st quarter worth $32,000. Perritt Capital Management Inc. bought a new position in High Tide during the 1st quarter worth $132,000. Virtu Financial LLC acquired a new position in High Tide during the 1st quarter worth about $153,000. Finally, Baader Bank Aktiengesellschaft grew its position 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 buying an additional 51,741 shares during the last quarter. 4.52% of the stock is owned by institutional investors and hedge funds.

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.