High Tide (NASDAQ:HITI) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

High Tide (NASDAQ:HITI) issued its earnings results on Monday. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03, Zacks reports. High Tide had a negative net margin of 7.07% and a negative return on equity of 1.06%. The company had revenue of $96.04 million for the quarter, compared to analysts’ expectations of $93.70 million. During the same quarter last year, the company posted ($0.03) earnings per share.

High Tide Stock Performance

HITI traded down $0.04 during trading on Wednesday, hitting $2.10. The company’s stock had a trading volume of 599,630 shares, compared to its average volume of 538,705. The business’s 50 day simple moving average is $1.95 and its 200-day simple moving average is $2.11. The firm has a market cap of $168.94 million, a PE ratio of -6.69 and a beta of 0.47. High Tide has a one year low of $1.14 and a one year high of $2.85. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 0.21.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HITI shares. Ventum Cap Mkts raised High Tide to a “strong-buy” rating in a report on Tuesday, July 16th. Roth Mkm reissued a “buy” rating and issued a $4.50 target price on shares of High Tide in a report on Wednesday.

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.