FY2024 Earnings Estimate for High Tide Inc. (NASDAQ:HITI) Issued By Roth Capital

High Tide Inc. (NASDAQ:HITI) – Roth Capital issued their FY2024 earnings per share (EPS) estimates for High Tide in a research note issued on Tuesday, September 17th. Roth Capital analyst S. Fortune expects that the company will earn $0.01 per share for the year. The consensus estimate for High Tide’s current full-year earnings is ($0.03) per share. Roth Capital also issued estimates for High Tide’s FY2025 earnings at $0.07 EPS.

High Tide (NASDAQ:HITI) last released its earnings results on Monday, September 16th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. The firm 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 7.07% and a negative return on equity of 1.06%. During the same quarter last year, the company earned ($0.03) EPS.

A number of other equities analysts have also issued reports on HITI. Roth Mkm reaffirmed a “buy” rating and set a $4.50 price target on shares of High Tide in a research note on Wednesday. Ventum Cap Mkts raised High Tide to a “strong-buy” rating in a research note on Tuesday, July 16th.

High Tide Price Performance

NASDAQ HITI opened at $2.11 on Thursday. High Tide has a 12 month low of $1.14 and a 12 month high of $2.85. The firm has a market capitalization of $169.74 million, a PE ratio of -6.59 and a beta of 0.47. The company’s 50 day simple moving average is $1.95 and its 200 day simple moving average is $2.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.17 and a quick ratio of 0.72.

Institutional Trading of High Tide

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrature Capital Ltd acquired a new position in High Tide in the first quarter worth approximately $32,000. Perritt Capital Management Inc. acquired a new position in shares of High Tide in the 1st quarter worth $132,000. Virtu Financial LLC acquired a new stake in shares of High Tide during the first quarter worth $153,000. JW Asset Management LLC lifted its holdings in shares of High Tide by 36.2% during the fourth quarter. JW Asset Management LLC now owns 102,144 shares of the company’s stock valued at $166,000 after purchasing an additional 27,144 shares during the last quarter. Finally, 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 valued at $276,000 after purchasing an additional 60,000 shares during the period. 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.