FY2024 EPS Estimates for High Tide Increased by Analyst

High Tide Inc. (NASDAQ:HITI) – Investment analysts at Atb Cap Markets lifted their FY2024 earnings estimates for High Tide in a report issued on Tuesday, October 22nd. Atb Cap Markets analyst F. Gomes now forecasts that the company will post earnings of ($0.03) per share for the year, up from their previous estimate of ($0.04). The consensus estimate for High Tide’s current full-year earnings is ($0.01) per share. Atb Cap Markets also issued estimates for High Tide’s FY2025 earnings at $0.00 EPS, FY2026 earnings at $0.15 EPS and FY2027 earnings at $0.30 EPS.

High Tide (NASDAQ:HITI) last posted its quarterly earnings data on Monday, September 16th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $96.04 million for the quarter, compared to analysts’ expectations of $93.70 million. High Tide had a negative net margin of 6.14% and a positive return on equity of 2.06%. During the same quarter in the previous year, the business posted ($0.03) earnings per share.

Several other brokerages also recently weighed in on HITI. Ventum Cap Mkts upgraded High Tide to a “strong-buy” rating in a report on Tuesday, July 16th. Roth Mkm reiterated a “buy” rating and set a $4.50 target price on shares of High Tide in a research report on Wednesday, September 18th.

High Tide Stock Performance

Shares of NASDAQ:HITI opened at $3.02 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20. High Tide has a 12 month low of $1.14 and a 12 month high of $3.12. The company has a market capitalization of $242.95 million, a price-to-earnings ratio of -9.44 and a beta of 0.48. The firm’s 50-day moving average is $2.21 and its 200 day moving average is $2.19.

Hedge Funds Weigh In On High Tide

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in High Tide during the 1st quarter valued at $153,000. Quadrature Capital Ltd purchased a new position in High Tide in the first quarter worth $32,000. Baader Bank Aktiengesellschaft lifted its holdings in shares of High Tide by 25.9% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 251,741 shares of the company’s stock valued at $555,000 after purchasing an additional 51,741 shares during the last quarter. Perritt Capital Management Inc boosted its position in shares of High Tide by 92.3% in the 2nd quarter. Perritt Capital Management Inc now owns 125,000 shares of the company’s stock worth $276,000 after purchasing an additional 60,000 shares in the last quarter. Finally, Perritt Capital Management Inc. purchased a new position in High Tide during the 1st quarter worth $132,000. 4.52% of the stock is currently owned by institutional investors.

High Tide Company Profile

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.