High Tide (NASDAQ:HITI) Now Covered by Analysts at D. Boral Capital

D. Boral Capital assumed coverage on shares of High Tide (NASDAQ:HITI) in a report published on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $4.00 target price on the stock.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of High Tide in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.62.

High Tide Stock Performance

NASDAQ:HITI opened at $2.15 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.46 and a quick ratio of 0.66. The firm has a market cap of $188.92 million, a price-to-earnings ratio of -6.94 and a beta of 0.59. The firm’s fifty day moving average price is $2.30 and its 200 day moving average price is $2.39. High Tide has a 1-year low of $2.09 and a 1-year high of $4.06.

High Tide (NASDAQ:HITI) last announced its quarterly earnings data on Monday, June 15th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The company had revenue of $132.02 million during the quarter, compared to the consensus estimate of $125.93 million. High Tide had a negative net margin of 6.62% and a positive return on equity of 3.59%. On average, sell-side analysts expect that High Tide will post 0.03 EPS for the current year.

Institutional Investors Weigh In On High Tide

A number of hedge funds and other institutional investors have recently bought and sold shares of HITI. HRT Financial LP acquired a new position in shares of High Tide during the 4th quarter worth $26,000. Osaic Holdings Inc. increased its holdings in shares of High Tide by 82,976.9% in the 2nd quarter. Osaic Holdings Inc. now owns 10,800 shares of the company’s stock valued at $25,000 after purchasing an additional 10,787 shares in the last quarter. Friday Financial acquired a new stake in shares of High Tide in the second quarter valued at about $29,000. StoneX Group Inc. acquired a new stake in shares of High Tide in the fourth quarter valued at about $41,000. Finally, Spark Investment Management LLC purchased a new stake in High Tide during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 4.52% of the company’s stock.

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.