High Tide Inc. (NASDAQ:HITI) Receives $6.13 Consensus PT from Analysts

Shares of High Tide Inc. (NASDAQ:HITI) have received a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $6.1250.

Several analysts have recently commented on the stock. Wall Street Zen downgraded shares of High Tide from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Weiss Ratings restated a “sell (d-)” rating on shares of High Tide in a report on Thursday, January 22nd. Finally, TD Securities began coverage on shares of High Tide in a report on Tuesday. They issued a “buy” rating for the company.

Institutional Trading of High Tide

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its stake in High Tide by 82,976.9% in the second quarter. Osaic Holdings Inc. now owns 10,800 shares of the company’s stock valued at $25,000 after acquiring an additional 10,787 shares during the period. HRT Financial LP acquired a new position in shares of High Tide during the fourth quarter worth approximately $26,000. StoneX Group Inc. bought a new position in shares of High Tide in the 4th quarter worth $41,000. Spark Investment Management LLC acquired a new stake in High Tide in the 4th quarter valued at $43,000. Finally, Bank of America Corp DE acquired a new stake in High Tide in the 4th quarter valued at $72,000. 4.52% of the stock is owned by institutional investors.

High Tide Stock Performance

Shares of High Tide stock opened at $2.62 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 0.70 and a debt-to-equity ratio of 0.80. The business has a 50-day moving average price of $2.54 and a two-hundred day moving average price of $2.93. High Tide has a 1-year low of $1.64 and a 1-year high of $4.06. The company has a market cap of $230.27 million, a P/E ratio of -7.08 and a beta of 0.57.

High Tide (NASDAQ:HITI) last announced its earnings results on Thursday, January 29th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $117.02 million for the quarter, compared to analyst estimates of $158.91 million. High Tide had a negative return on equity of 2.37% and a negative net margin of 8.68%. As a group, analysts anticipate that High Tide will post -0.04 EPS for the current year.

High Tide Company Profile

High Tide Inc (NASDAQ: HITI) is an omnichannel retailer and branded consumer packaged goods company serving the regulated cannabis market. The company operates a network of licensed cannabis retail stores across Canada, offering a curated assortment of cannabis flower, pre-rolls, vapes and lifestyle accessories. In parallel, High Tide maintains an e-commerce platform that delivers hemp-derived products, vaporizers, glassware and other ancillary goods to consumers in multiple jurisdictions.

Within Canada, High Tide’s retail division includes banners such as Canna Cabana, Meta Cannabis Supply Co and The Hunny Pot, each designed to provide differentiated in-store experiences.