High Tide Inc. (NASDAQ:HITI) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of High Tide Inc. (NASDAQ:HITI) have received a consensus rating of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $5.6250.

Several research analysts recently issued reports on HITI shares. D. Boral Capital assumed coverage on shares of High Tide in a research note on Wednesday. They issued a “buy” rating and a $4.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of High Tide in a report on Friday.

Institutional Trading of High Tide

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE bought a new position in High Tide during the 4th quarter valued at approximately $72,000. StoneX Group Inc. bought a new stake in High Tide in the second quarter worth $46,000. Murchinson Ltd. bought a new stake in High Tide in the second quarter worth $398,000. Boothbay Fund Management LLC purchased a new stake in shares of High Tide in the second quarter worth $110,000. Finally, Osaic Holdings Inc. grew its stake in shares of High Tide by 82,976.9% in the second quarter. Osaic Holdings Inc. now owns 10,800 shares of the company’s stock worth $25,000 after acquiring an additional 10,787 shares during the last quarter. Hedge funds and other institutional investors own 4.52% of the company’s stock.

High Tide Stock Up 1.9%

Shares of NASDAQ HITI opened at $2.20 on Wednesday. High Tide has a 12 month low of $2.09 and a 12 month high of $4.06. The firm has a market capitalization of $193.31 million, a PE ratio of -7.10 and a beta of 0.59. The firm has a fifty day simple moving average of $2.31 and a two-hundred day simple moving average of $2.40. The company has a current ratio of 1.46, a quick ratio of 0.66 and a debt-to-equity ratio of 0.89.

High Tide (NASDAQ:HITI) last posted its quarterly earnings data on Monday, June 15th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. The business had revenue of $132.02 million for the quarter, compared to analysts’ expectations of $125.93 million. High Tide had a positive return on equity of 3.59% and a negative net margin of 6.62%. Equities analysts expect that High Tide will post 0.03 earnings per share for the current year.

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.