High Tide (NASDAQ:HITI – Get Free Report) posted its quarterly earnings data on Monday. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.01 by $0.08, reports. High Tide had a positive return on equity of 5.13% and a negative net margin of 4.73%.The company had revenue of $141.74 million during the quarter, compared to analyst estimates of $138.97 million.
High Tide Trading Down 1.3%
Shares of HITI stock traded down $0.04 during trading on Thursday, hitting $2.65. 177,967 shares of the stock traded hands, compared to its average volume of 533,461. The firm has a market capitalization of $236.27 million, a P/E ratio of -11.57 and a beta of 0.62. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 0.66. The firm’s fifty day moving average price is $2.35 and its 200-day moving average price is $2.37. High Tide has a 52-week low of $2.02 and a 52-week high of $4.06.
Wall Street Analysts Forecast Growth
HITI has been the subject of several research reports. D. Boral Capital began coverage on High Tide in a research report on Wednesday, July 22nd. They set a “buy” rating and a $4.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of High Tide in a research report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, High Tide has a consensus rating of “Moderate Buy” and an average target price of $5.62.
High Tide Company Profile
High Tide Inc is a Canadian cannabis company focused on the retail and sale of cannabis products and consumption accessories. Its retail operations are conducted primarily under the Canna Cabana brand, while its digital platforms support online shopping, customer engagement and loyalty programs.
The company offers a range of products, including dried cannabis, pre-rolls, cannabis oils, edibles, beverages and other cannabis formats, subject to applicable regulations. Through related brands and platforms, High Tide also sells smoking accessories and other products designed for cannabis consumers.
Founded in 2009, High Tide is headquartered in Calgary, Alberta, and serves Canadian consumers through its retail network and e-commerce operations.
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