High Tide Inc. (NASDAQ:HITI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

High Tide Inc. (NASDAQ:HITI) has received an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $5.6250.

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of High Tide in a research report on Friday, July 17th. D. Boral Capital started coverage on shares of High Tide in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $4.00 price objective for the company.

Institutional Investors Weigh In On High Tide

A number of large investors have recently modified their holdings of the business. Friday Financial acquired a new stake in shares of High Tide in the second quarter worth $29,000. Renaissance Technologies LLC increased its stake in shares of High Tide by 13.0% during the first quarter. Renaissance Technologies LLC now owns 1,067,632 shares of the company’s stock worth $2,445,000 after purchasing an additional 122,569 shares in the last quarter. State of Wyoming purchased a new stake in High Tide during the 1st quarter worth approximately $387,000. NewEdge Advisors LLC acquired a new position in High Tide in the 4th quarter valued at $129,000. Finally, XTX Topco Ltd raised its position in shares of High Tide by 35.8% in the fourth quarter. XTX Topco Ltd now owns 42,606 shares of the company’s stock valued at $113,000 after buying an additional 11,222 shares during the last quarter. Hedge funds and other institutional investors own 4.52% of the company’s stock.

High Tide Trading Down 0.4%

Shares of High Tide stock opened at $2.45 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.46 and a debt-to-equity ratio of 0.89. High Tide has a twelve month low of $2.02 and a twelve month high of $4.06. The business has a 50-day moving average price of $2.25 and a 200-day moving average price of $2.34. The firm has a market cap of $215.55 million, a price-to-earnings ratio of -7.90 and a beta of 0.62.

High Tide (NASDAQ:HITI) last posted its earnings results on Monday, June 15th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. High Tide had a positive return on equity of 3.59% and a negative net margin of 6.62%.The firm had revenue of $132.02 million during the quarter, compared to the consensus estimate of $125.93 million. Equities research analysts anticipate that High Tide will post 0.03 EPS for the current fiscal year.

About High Tide

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.