High Tide (NASDAQ:HITI) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

High Tide (NASDAQ:HITI) announced its quarterly earnings data on Monday. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01), Zacks reports. High Tide had a negative net margin of 0.81% and a negative return on equity of 2.93%.

High Tide Stock Performance

Shares of HITI stock traded down $0.06 during trading hours on Monday, reaching $2.22. 533,110 shares of the company’s stock were exchanged, compared to its average volume of 584,711. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.40 and a quick ratio of 0.92. The company’s 50 day moving average is $2.28 and its two-hundred day moving average is $2.58. The company has a market cap of $179.90 million, a P/E ratio of -74.00 and a beta of 0.52. High Tide has a 1 year low of $1.57 and a 1 year high of $3.62.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in High Tide stock. Bank of America Corp DE bought a new stake in High Tide Inc. (NASDAQ:HITI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 23,200 shares of the company’s stock, valued at approximately $72,000. 4.52% of the stock is owned by institutional investors and hedge funds.

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.