High Tide (NASDAQ:HITI) Issues Earnings Results

High Tide (NASDAQ:HITI) issued its quarterly earnings results on Monday. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01, Zacks reports. High Tide had a positive return on equity of 3.59% and a negative net margin of 6.62%.

High Tide Stock Performance

Shares of NASDAQ:HITI traded up $0.10 during trading on Monday, reaching $2.63. The stock had a trading volume of 3,618,033 shares, compared to its average volume of 519,485. High Tide has a 52 week low of $2.02 and a 52 week high of $4.06. The firm has a market capitalization of $233.81 million, a price-to-earnings ratio of -8.48 and a beta of 0.62. 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 stock has a fifty day simple moving average of $2.33 and a two-hundred day simple moving average of $2.36.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on HITI shares. D. Boral Capital initiated coverage on High Tide in a research report on Wednesday, July 22nd. They set a “buy” rating and a $4.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of High Tide in a report on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.62.

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.