High Tide (NASDAQ:HITI) Earns Buy Rating from Analysts at D. Boral Capital

D. Boral Capital initiated coverage on shares of High Tide (NASDAQ:HITI) in a report published on Wednesday, MarketBeat Ratings 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 research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, High Tide presently has an average rating of “Moderate Buy” and a consensus price target of $5.62.

High Tide Stock Performance

Shares of HITI opened at $2.15 on Wednesday. High Tide has a 52-week low of $2.09 and a 52-week high of $4.06. The company has a quick ratio of 0.66, a current ratio of 1.46 and a debt-to-equity ratio of 0.89. 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 business’s 50 day moving average is $2.29 and its two-hundred day moving average is $2.39.

High Tide (NASDAQ:HITI) last issued its quarterly earnings results on Monday, June 15th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $132.02 million during the quarter, compared to analyst estimates of $125.93 million. High Tide had a negative net margin of 6.62% and a positive return on equity of 3.59%. Analysts forecast that High Tide will post 0.03 EPS for the current fiscal year.

Institutional Trading of High Tide

Several hedge funds have recently added to or reduced their stakes in HITI. Osaic Holdings Inc. increased its holdings in shares of High Tide by 82,976.9% during the second 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 during the period. HRT Financial LP acquired a new position in shares of High Tide during the 4th quarter valued at $26,000. Friday Financial acquired a new stake in shares of High Tide in the second quarter valued at $29,000. StoneX Group Inc. bought a new stake in High Tide in the fourth quarter worth about $41,000. Finally, Spark Investment Management LLC bought a new position in shares of High Tide during the 4th quarter valued at about $43,000. Institutional investors 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.