High Tide (NASDAQ:HITI) Receives Buy Rating from Roth Mkm

Roth Mkm reiterated their buy rating on shares of High Tide (NASDAQ:HITI) in a research report released on Wednesday morning, Benzinga reports. The firm currently has a $4.50 target price on the stock.

Separately, Ventum Cap Mkts raised High Tide to a strong-buy rating in a research report on Tuesday, July 16th.

High Tide Stock Down 1.4 %

Shares of NASDAQ:HITI opened at $2.11 on Wednesday. High Tide has a 1 year low of $1.14 and a 1 year high of $2.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.17 and a quick ratio of 0.72. The business has a fifty day moving average price of $1.95 and a two-hundred day moving average price of $2.11. The company has a market capitalization of $169.74 million, a PE ratio of -6.59 and a beta of 0.47.

High Tide (NASDAQ:HITI) last issued its quarterly earnings results on Monday, September 16th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. High Tide had a negative return on equity of 1.06% and a negative net margin of 7.07%. The firm had revenue of $96.04 million for the quarter, compared to analysts’ expectations of $93.70 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. Analysts forecast that High Tide will post -0.03 earnings per share for the current year.

Institutional Trading of High Tide

A number of institutional investors have recently added to or reduced their stakes in HITI. Quadrature Capital Ltd purchased a new stake in High Tide during the 1st quarter worth about $32,000. Perritt Capital Management Inc. purchased a new stake in High Tide during the 1st quarter worth about $132,000. Virtu Financial LLC purchased a new stake in High Tide during the 1st quarter worth about $153,000. JW Asset Management LLC lifted its holdings in High Tide by 36.2% during the 4th quarter. JW Asset Management LLC now owns 102,144 shares of the company’s stock worth $166,000 after purchasing an additional 27,144 shares in the last quarter. Finally, Perritt Capital Management Inc raised its holdings 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 acquiring an additional 60,000 shares in the last quarter. Hedge funds and other institutional investors own 4.52% of the company’s stock.

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.