High Tide (NASDAQ:HITI) Given “Buy” Rating at Roth Capital

Roth Capital restated their buy rating on shares of High Tide (NASDAQ:HITI) in a report published on Wednesday,Benzinga reports. They currently have a $5.00 price target on the stock, up from their previous price target of $4.50.

High Tide Price Performance

Shares of NASDAQ:HITI opened at $2.20 on Wednesday. The firm has a market cap of $178.29 million, a PE ratio of -27.50 and a beta of 0.52. The firm’s fifty day moving average is $2.30 and its 200-day moving average is $2.57. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.95 and a current ratio of 1.57. High Tide has a 52 week low of $1.57 and a 52 week high of $3.62.

High Tide (NASDAQ:HITI) last issued its quarterly earnings results on Monday, June 16th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). High Tide had a negative return on equity of 6.45% and a negative net margin of 1.71%. The business had revenue of $99.86 million for the quarter, compared to analyst estimates of $138.50 million. Sell-side analysts predict that High Tide will post -0.04 earnings per share for the current year.

Institutional Investors Weigh In On High Tide

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in High Tide by 142.4% in the fourth quarter. Renaissance Technologies LLC now owns 839,600 shares of the company’s stock valued at $2,594,000 after purchasing an additional 493,300 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in High Tide in the fourth quarter valued at $1,605,000. Two Sigma Investments LP increased its stake in High Tide by 146.0% in the fourth quarter. Two Sigma Investments LP now owns 311,304 shares of the company’s stock valued at $962,000 after purchasing an additional 184,780 shares in the last quarter. State of Wyoming increased its stake in High Tide by 55.7% in the first quarter. State of Wyoming now owns 242,241 shares of the company’s stock valued at $458,000 after purchasing an additional 86,682 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its stake in High Tide by 755.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 240,288 shares of the company’s stock valued at $738,000 after purchasing an additional 212,197 shares in the last quarter. 4.52% of the stock is owned by 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.